On December 18, brokerages across India informed their customers about temporary disruptions in Central Depository Services Limited (CDSL) services, preventing the authorisation of sell orders.
“Due to an issue at CDSL across brokers, customers may face difficulties in authorising their sell orders. We are working closely with CDSL to resolve this and will share updates as the situation progresses,” a brokerage noted on social media platform X (formerly Twitter).
Another brokerage advised its clients, “In the interim, you can sell your holdings without requiring CDSL authorisation.”
How CDSL Authorisation Works
Normally, an investor has to sell the stock with the help of approval via the CDSL platform. There are verification steps-like entering an OTP-which would ensure that the stocks get released from the demat account of the seller to the buyer.
The failure has affected brokers in every state, as well as disrupted trading activities and caused inconvenience to investors relying on the services for timely stock sales. Efforts are on to resolve the issue at the earliest. Investors are requested to keep themselves updated from notifications issued by their brokers and the depository for further development.
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Source: Moneycontrol
News Desk
