The discount broker Zerodha has invested in a financial technology start-up called Zerodha Digio App. The company has received a funding round of Rs2.5 crore through Rainmatter, an in-house incubator. The company’s CEO and founder, Nithin Kamath, will join the board of Digio. This startup focuses on Aadhaar-based financial products. Its app is designed for Aadhaar-enabled financial products.
Digital Signature-Enabling Platform
Zerodha, the online discount broker, has invested Rs 2.5 crore in a new financial technology start-up called Digio. The company claims to be the first to roll out a document e-signing platform based on Aadhaar. In addition, the Digio app has a digital signature gateway and verifies the user’s identity. In the near future, Digio plans to expand its service offering to other sectors.
The Zerodha Digio app is an online brokerage company with a mobile application and website. The company adheres to the guidelines imposed by the Securities Exchange Board of India (SEBI) and the Prevention of Money Laundering Act, 2002 to ensure the privacy of clients and users. It also complies with the Information Technology Act, 2000 (ITAct) and the Anti-Bribery Act, 2002, requiring the disclosure of sensitive personal data.
In the event you want to close your Zerodha Demat account or Zerodha Digio app trading account, you have to complete a closure form by submitting your name, the number of the account, and signatures. If your account has a negative balance, you must transfer the money out of it through your bank account. After this, you will no longer be able to access the trading account. In order to close your Zerodha account, you will have to pay annual maintenance charges. Zerodha is one of the leading discount brokers in India, and it is rare to see any negative reviews or complaints about it.
If you do not want to wait for the processing time, you can close your Zerodha account offline. You must have your digital signature and an OTP sent to your Aadhaar registered mobile number. This request will take around 5 business days, after which your Zerodha BO ID will be soft-deleted from the system. To close your Zerodha account offline, you must complete a cancellation form and mail it to Zerodha’s head office.
To open a Zerodha Demat account on the app, you must fill in your Aadhar card details and the bank account details. You must also authorize Zerodha to charge security charges. You must also activate the webcam and provide access to the camera. Zerodha has a Mumbai headquarters. You can also meet with a representative of Zerodha in person to open a Demat account.
Besides, you should also ensure that your bank and mutual fund accounts have a nominee. A nominee is necessary for mutual funds in Demat format. If something happens to you while holding your investment, your nominee can claim it. For Mutual Funds in SoA format, your nominee must run after every AMC. Once you’ve opened a Zerodha Demat account, you can also use the app to track your investments.
Steps to Open
In order to start using the Zerodha Digio app, you need to register. To do so, you need to sign in using your Aadhar number. Once you have registered, you will be taken to the Zerodha account opening page. On this page, you must enter your mobile number and receive an OTP. This OTP is valid for 30 minutes. To complete your registration process, you must follow the steps outlined below.
First, you must provide proof of income. This can be a salary slip, six-month bank statement, Form-16 acknowledgment, Demat holding statement, or a Certificate of Net Worth from a Chartered Accountant. For Futures and Options, you will also need to sign up for DigiLocker. This is only require if you are a new customer. The DigiLocker is an additional security feature that provides additional protection from fraudulent transactions.
Reactivating your Account
Closing your Zerodha Digio account? If you have been dissatisfy with your product, you may close your account. However, if you’ve been unable to make a purchase within a given timeframe, you can always reactivate your account. It will do by filling up a closure form and attaching a letter of reason. You can either do it online or offline. The first step is to sign up for a Digio account. You’ll need a VID and OTP to do so.
To reactivate your Zerodha account, you need to first close your demat account. You’ll no longer have access to the trading platforms, but you’ll still receive periodic emails, unless you specifically request to stop receiving them. If you don’t want to receive periodic emails, you can submit an e-signature closure form. Once you’ve completed this, you should raise a ticket with the Zerodha customer service team and wait for 5-7 working days for your account to reactivate.