As per the NSE circular (PDF), starting April 1, 2024, new clients must sign the Most Important Terms and Conditions (MITC) (PDF) as part of the account opening forms. Existing clients must be informed about MITC by June 1, 2024.

The MITCs are summarised below:

• Keep the account safe by not letting anyone else trade on it without your permission. Do not share the login details with anyone.
• Funds or securities must be provided as collateral to Zerodha to trade or invest. To learn how to transfer funds, see What are the different ways of transferring funds to the Zerodha account? To learn how to pledge securities as collateral, see How to pledge securities to get collateral margin?
• Trading restrictions may be applicable as per Zerodha’s risk management policy. To learn more, visit zerodha.com/policies-and-procedures. The tariff sheet (PDF) explains all the charges that are applicable.
• Purchased securities will be settled in the demat account by T+1 day. To learn more, see What does settlement cycle mean?
• Zerodha allocates client funds segment-wise with the Clearing Corporation (CC). This means that the balance maintained with Zerodha will be segregated and allocated segment-wise depending on the trades and margin utilisation. To learn more, see Why was an email and SMS sent by the clearing corporation informing about the allocation of funds? Unutilesd funds are transferred back to the client's primary bank account quarterly. To learn more, see What is a quarterly settlement or running account settlement?
• A contract note is sent to the client within 24 hours of placing a trade. To learn more about contract notes, see What is a contract note?
• Clients can provide a Demat Debit and Pledge Instruction (DDPI) to Zerodha. DDPI is a document that allows a broker to debit the securities from the client’s demat account and deliver them to the exchange. The client does not have to enter the CDSL T-PIN and OTP to sell shares once the DDPI is submitted. To learn more about DDPI, see What is Demat Debit and Pledge Instruction (DDPI)?
• Clients are required to keep their contact details updated with Zerodha. Clients are also required to provide financial information as requested by Zerodha. To learn more, see What details are collected when opening an account with Zerodha, and why are they collected?
• To report grievances or complaints, create a ticket, and Zerodha will respond with a resolution. Complaints can also be raised on SEBI SCORES by visiting scores.gov.in/scores/Welcome.html.
• Schemes promising guaranteed returns are illegal. If clients invest in them, they will not be protected by SEBI or the stock exchanges.