Comment on CDSL introduces PIN-based pre-authorisation for selling stocks

AQ commented on 28 May 2020, 12:42 AM

No innovation only new workarounds.
The whole business of Stock trading is flawed.
The whole process from account creation and verification is flawed, now they have added another layer of complexity.
In an ideal world (which we don’t live in) an individual would directly approach the exchange to open and account. The exchange must do the KYC and other formalities and allow the user to create API keys (which will have access levels to chose from such as trading/ withdrawal etc) and then user hands over the keys to whichever broker they chose to and that should be it.

But guess what as usual the rich gets more lazy and wants others to work for them. So is the case in this situation, the exchange wants no hassle they just want Brokers to do all the work for them. Govt wants to keep the old machine working as usual.
Ideally the brokers should not have any customer’s money on them. It should be with exchange.

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