Re: Web Cam verification....
Buddy:
Many people don not use internet quite often as IT guys or broker people use or like you do.
We know very well majority of Indian population where they stand.
They might do offline trading or call broker for their investment.
Please go and check how many people use internet at home. I am sure you will find the survey somewhere.
It's not possible for everyone to have everything in hand in India.
That's why I urge earlier to Zerodha/ILFS to drop this webcam idea otherwise I also have to close my a/c with them. No choice
Tell me one thing if they can send the application form to home address for opening application .
Why they can not come up with any alternative of this issue?
I am sure they need more customers instead of existing customer closes their a/c due to this small issue.
So Zerodha should work on it.
Due to webcam problem with ILFS, I am thinking to go with other securities to open my demat a/c if they would not agree.
Can anyone let me know if there is competitive rates available? So that I get my Demat a/c from them instead of ILFS.
I dont mind paying 100 more than ILFS offers.
Please suggest if you guys know any.
Many thanks.
So let me get this straight, you'd rather pay Rs.100 more every year with another DP but wouldn't spend Rs.10/20 on going to a cybercafe to get the verification done?
(Not to mention your A/C opening charges of 200-500/600 will've been wasted, IF you ACTUALLY have an A/C with Zerodha & don't want to use it anymore because of the whole IPV issue)
Further, Zerodha has said many a times that they're running an
online broking model & thus, they'd like to keep most of their activities
online so where does the question of people without PC & internet arise? I guess such traders would be better off looking for an "offline-broker" anyway.
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Well, to an extent I can understand that this webcam-IPV thing mayn't be very convenient to everyone considering that not all cafes may've a webcam facility or that the person in question is very busy so it's difficult to arrange a timing where both ILFS & the client will agree on; there've been couple of such examples in this very thread, if I'm not mistaken, there was one case where the person's mother was a doctor so she was busy & couldn't be on a webcam when ILFS wanted her to be so there was a "time mismatch" of sorts & because of that it took them several weeks (& several posts to & from Zerodha) to open their A/C.
This could probably be solved by Zerodha or ILFS asking the client in question to take his/her picture while holding a paper with their client-ID or account number or PAN or whatver which'd be "unique" for each person & then SMS it or e-mail it to Zerodha. Mobiles are commonplace these days & almost everyone seem to have them & many cheaper models have cameras too so this could solve the whole "time mismatch" issue of arranging a meeting between ILFS guys & the client in a cybercafe & everything & the purpose would still be served.
I just googled & found this circular -
https://nsdl.co.in/downloadables/pdf/mastercircular.pdf
(iii) If ‘in-person’ verification is done through web camera, then mention “IPV through webcam”.
Notice the word "if", so webcam isn't mandatory as such I think.
(g) Participants may use „web-camera‟ for carrying out ‘in-person’ verification...
Again, the word "may" clearly shows that it's not the only way of carrying out an IPV & that it can possibly be done in other ways but the circular seems to treat the term "in-person verification" quite subjectively & generally & doesn't seem to be very specific about it.
