Mon Mar 24 15:20:00 UTC 2025: ## Zerodha CEO’s Swift Response Wins Over Techie Facing Account Closure

**Bengaluru, India** – A Bengaluru-based techie, Sachin Jha, unexpectedly received a rapid and personal response from Zerodha co-founder Nikhil Kamath after facing a forced closure of his Zerodha account. Jha’s wife’s new job at a global investment bank mandated the closure of all Zerodha accounts due to the brokerage’s lack of a physical banking presence, a classification the bank deemed as “untrusted broker.”

Despite his reluctance to leave the platform, Jha sent a last-ditch email to Kamath, expecting no reply. To his surprise, Kamath responded within ten minutes, initiating a series of actions by the Zerodha team. The team acknowledged the issue, outlined their plans to improve trust with institutions by working directly with banks to address compliance concerns, and expressed their intention to bridge this gap.

While Jha ultimately closed his account as per his wife’s employer’s requirements, he expressed immense admiration for Zerodha’s swift and proactive response on LinkedIn. He stated that the experience “won [his] trust for life.”

This incident highlights the unique position of Zerodha. While its unconventional approach, operating without a banking license, has fueled its success as a discount brokerage, leading to a 62% surge in profit (Rs 4,700 crore) and a 21% revenue increase (Rs 8,320 crore) in FY24, it also limits its expansion into other financial services. Kamath has previously voiced his frustration at the inability to secure a banking license, hindering Zerodha’s ambitions to offer banking, borrowing, and insurance products.

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