Tiger Global Management-backed RKSV Securities India became the second-biggest broker in the country after nearly doubling the number of its customers to 1.2 million in the 6 months through September
The company has already registered 220,000 investors, of which 65 per cent are in the age group of 18 to 30 years
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Company has made provision of Rs 88.96 crore on client receivables
The problem is with the broking model and what brokers are allowed to do
Earlier, small broking houses were able to attract clients by allowing them to take large leveraged intra-day trades without taking any upfront commission from them
The exchange also allows some of its employees to work from home
Accordingly, the regulator said, "the certificates of registration of the noticee i.e. Click2Trade Capital Ltd, as a stock broker, shall be cancelled with immediate effect".
Trust deficit after Karvy fiasco and access to margin facility to drive shift of investors
Sources say the issue is not limited to just Karvy Stock Broking, with over three dozen more brokers under lens for misappropriating client funds to the tune of Rs 10,000 crore
Karvy is among the country's top 10 brokerage companies, with 244,000 customers in the country
KSBL is among the country's top 10 brokerage companies, with 244,000 customers in the country
Execution of big government projects and their realisation will remain key monitorables, CRISIL said
The issue has come to light after several brokers missed the August 31 deadline set by Sebi for returning client funds
Zerodha CEO Nithin Kamath says not being answerable to anyone is the best part of his life, so the company is not looking for a funding
It's essentially a bet customers will still pay extra to be hand-held in their trades
High regulatory expectations and advent of discount broking have made old-style brokerage businesses unviable
Large players use these tools even to deliver data on stocks they don't cover; several use chatbots, Google Home and Alexa to improve customer experience