'We are responsible for all issues you face': Zerodha's Nithin Kamath apologises for tech glitches

A day after low-cost brokerage Zerodha's Kite platform faced login issues, its CEO Nithin Kamath apologised for the tech glitch. 

"The issues on Nov 6th and Dec 4th were triggered due to edge cases with our external dependencies. This is no excuse, and I understand that, as a platform, we are responsible for all the issues you face. But I wanted to share with you what went wrong and what we are doing about it," said Kamath on X platform (formerly Twitter).

Zerodha said on Monday it faced two different issues with login and marketwatch that affected some of its clients.

Zerodha had in November faced some issues where its users were unable to see executed orders in the orderbook due to an intermittent issue but the executed orders were being updated on the positions page.  In October, Kite witnessed a similar technical issue, which was later fixed. Some Zerodha clients had earlier suggested that the trades were being executed but were not reflecting in the position section.

"Yesterday’s issue seems to be because of an exponentially larger number of customer password reset requests that caused login issues. On Monday morning, the system that notifies users of logins from new geographical locations based on IP addresses sent out an unexpectedly large number of alerts. We discovered that this was the result of an increase in the geo-location accuracy of the IP/geo-location database that we use. A routine update of this database happened over the weekend. We believe this led to a large influx of password reset requests from confused users, putting a strain on our login systems and resulting in login failures. We will share a detailed RCA on the disclosure page soon," said Kamath in a blog.

"We've put in measures to prevent similar issues. Please create a ticket if you were affected by today's issue, and our team will reach out to you. We sincerely apologize for the inconvenience caused," said Zerodha on Monday evening.