{"id":387329,"date":"2024-08-20T12:37:32","date_gmt":"2024-08-20T07:07:32","guid":{"rendered":"https:\/\/zerodha.com\/z-connect\/?p=387329"},"modified":"2025-03-11T15:50:57","modified_gmt":"2025-03-11T10:20:57","slug":"nse-circular-suspending-referral-programmes","status":"publish","type":"post","link":"https:\/\/zerodha.com\/z-connect\/general\/nse-circular-suspending-referral-programmes","title":{"rendered":"NSE circular suspending referral programmes"},"content":{"rendered":"\n

NSE published a circular<\/a> on August 14 that says:<\/p>\n

\n

With a view to safeguard the interest of investors, it is hereby clarified that any person referring a client to the Trading Member (broker) shall be appointed as an Authorised Person (AP) of the Trading Member after obtaining specific prior approval from the stock exchange for each such person.<\/span><\/i><\/p>\n<\/blockquote>\n

\"\"<\/p>\n

The exchange\u2019s reasoning is that a broker sharing a percentage of the brokerage generated as a referral benefit to clients could lead to individuals inducing their referrals to trade, which is not in the best interest of the customer.<\/p>\n

As a result, we will pay out all referral wallet balances >\u20b910 (as of July 31, 2024; the last time this balance was updated) and stop our referral program. However, you will continue to receive 300 reward points one time for every account you refer that you can redeem against AMC or paid access to other partner products (smallcase, Tickertape, Tijori, MProfit & Quicko).<\/p>\n

Meanwhile, we are representing to the exchanges directly and through various forums on why we should continue the referral program. We will keep you informed on any updates we get from the exchanges.<\/p>\n","protected":false},"excerpt":{"rendered":"

NSE published a circular on August 14 that says: With a view to safeguard the interest of investors, it is hereby clarified that any person referring a client to the Trading Member (broker) shall be appointed as an Authorised Person (AP) of the Trading Member after obtaining specific prior approval from the stock exchange for […]<\/p>\n","protected":false},"author":3,"featured_media":387356,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[577,531],"tags":[],"class_list":["post-387329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-updates","category-general"],"yoast_head":"\nNSE circular suspending referral programmes – Z-Connect by 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