According to the exchange circular
(PDF),
beginning August 15, 2024, brokers are prohibited from paying referral commissions to individuals not registered as an Authorised Person (AP). As a result, Zerodha will not be permitted to pay the 10% brokerage generated by referrals through the referral programme from August 25, 2024, until the exchange provides further clarification. However, 300 reward points will still be given for each successful referral.
Withdrawal requests may not be processed for the following reasons:
- The referrals were added before January 2020.
- One or more of the referral accounts were opened in the current month. Only the previous month is considered to calculate referral payouts. If you didn’t have a referral in the previous month but have one now, you can request a withdrawal in the first week of the next month.
See Terms & Conditions for Referral Incentive Scheme Policy for more information.