Investors in the Indian stock market on Tuesday complained on social media platform X that the Central Depository Service of India (CDSL) was down and they were unable to sell their shares.
Many traders faced problems when validating sell orders with TPIN.
Brokerage firms Upstox and Zerodha responded to users regarding the failure of TPIN verification, stating that the problem lies with CDSL.
“CDSL is down for all Demat accounts. This is a serious issue and the concerned authorities should look into it. Even a few minutes of issuance can cause huge losses to the common man. Who is responsible? Should I be responsible for it?” wrote one user.
However, Upstox revealed that CDSL’s publishing service is down.
“The CDSL TPIN service may be down, which may result in the inability to generate new TPINs to approve sell orders.”
CDSL had introduced electronic delivery instructions (e-DIS) verification to protect investors. When a trader sells shares he must authenticate the transaction with TPIN and OTP.
A stock market trader received the following notification from his broker: “Due to issues with CDSL across all brokers, you may experience intermittent issues with TPIN authentication when selling stocks. Please try again later. We will resolve the issue as soon as possible. We are in contact with CDSL to do so.”
As of 11:15 a.m., CDSL stock was trading 0.43% higher. INR2,123.15 per piece on NSE.
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