Comment on POA - Power of Attorney for your Demat account

1) Payouts are automated and all payouts are done by default to the primary bank account of the account holder. There’s no manual intervention and no scope to change the Bank account details to which the payout is to be done at any stage during the payout process. Plus we have strong internal control by way of reconciliations etc.
2) All call and trade orders are backed by call records & validation of the client details through a telephone pin. In case there’s a clerical error, we’ll initiate a client code modification and take the trade to our own error account. The PoA that you’ve signed is a limited PoA and doesn’t grant access to the broker to trade on behalf of a client.

View the full comment thread »