Mar 24, 2025 05:10 PM IST
Bengaluru product supervisor Sachin Jha’s spouse joined an funding financial institution which labeled Zerodha as “not trusted” because of its lack of a bodily banking presence.
A buyer of brokerage Zerodha needed to shut his accounts because of a compliance mandate which claimed it was “not a trusted broker.” Nevertheless, CEO Nithin Kamath responded swiftly to his downside, profitable his “trust for life”.
Jha then despatched a “last-ditch email” to Kamath dated December 4, 2020, since he was reluctant to depart the platform which he admired for its consumer expertise, although he didn’t count on a reply.(File)
This got here when Bengaluru-based product supervisor Sachin Jha’s spouse joined a world funding financial institution which labeled Zerodha as not trusted because of its lack of a bodily banking presence.
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Nevertheless, Kamath responded inside simply ten minutes and a complete motion plan was triggered by the staff.
They outlined the steps being taken with the banks to handle compliance points, and in addition requested Jha’s help to ascertain direct communication together with his spouse’s employer.
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Although Jha admitted that he nonetheless closed his account, he stated that Zerodha “won my trust for life.”
Your entire episode highlights the credibility challenges which digital-first monetary platforms like Zerodha face in conventional banking environments.
In Zerodha’s case particularly, Kamath had steered away from looking for a banking license because of its related regulatory dangers, rising Zerodha solely via strategic partnerships.
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Kamath has additionally beforehand acknowledged these points publicly and Jha famous that your complete expertise supplied “a $2 billion lesson in customer obsession” via the corporate’s speedy acknowledgment, planning, and clear communication about its challenges.
Information / Enterprise / ‘They gained my belief for all times’: Zerodha consumer on CEO Nithin Kamath’s immediate response
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