NSE Launches IRRA Trading App | Will it Really Solve App Glitches?

While trading in the stock market, many individuals encounter various problems that often lead to financial losses.
However, one of the most significant setbacks during trading occurs when the trading app suddenly malfunctions, resulting in substantial losses for retail traders.
A primary reason for these losses is often app glitches. Recognizing this issue, the Securities and Exchange Board of India (SEBI) has collaborated with major stock exchanges like the NSE, BSE, and MCX to introduce a backup platform.
Even if your trading app experiences a sudden interruption, you can still complete your transactions through this backup platform.
This video will delve into how this backup platform operates and how it can protect traders from the adverse effects of trading app glitches.
When questioned about trading app glitches, brokers like Zerodha, Groww, Angel One, Dhan etc. often provide various excuses.
However, SEBI has now established an Investor Risk Reduction Access (IRRA) backup platform, ensuring that no retail trader faces losses due to app glitches.
If your trading app freezes or encounters issues while executing buy or sell orders in the stock market, IRRA steps in as a reliable backup, allowing you to continue with your transactions even after an app glitch occurs.
So, on December 30, 2022, SEBI issued a circular in which the topic of IRRA was discussed. But now, finally, on September 14, 2023, NSE has issued a circular in which it has clearly announced the IRRA backup platform.
Technically, all traders who engage in IBT and STWT or internet-based trading can make use of this backup. However, algo traders or institutional traders cannot utilize the IRRA backup. This backup operates in three ways:
Firstly, the broker can independently notify if there are glitches in their app, any issues, or network problems, and communicate these to the exchange.
Secondly, the exchange itself can check for glitches or gather information through social media channels to identify any issues. Lastly, clients themselves can inform the exchange if they encounter any problems.
In this, there will be some additional power with the brokers, and in order to use these powers, brokers will need to download two links, one for a web app and one for a mobile app.
Both of these links should be visible on the broker's website after October 3rd. Retail traders should also check on October 3rd whether these links have appeared in their demat accounts and bookmark them.
Several faxes will be received from NSE or other exchanges, along with demos and videos explaining how to use this backup, so that no one faces any issues while using it.
To get a complete understanding of this IRRA backup and the guidelines of SEBI watch the full video.
Download our app Stock Pathshala to learn the Stock Market for free:
bit.ly/3rg2h0h
Join the Fraud Free Awareness Program NOW: aseemjuneja.in/fraud-free-awa...
Follow us on Social Media Handles:
Instagram - bit.ly/adb_insta
Twitter- bit.ly/adb_twt
LinkedIn- bit.ly/adb_linkdin
🎧 Listen to Our Podcast on Spotify:
spoti.fi/3JnpmSQ
🎥Subscribe to our Aseem Juneja Channel:
/ @aseemjuneja
🎥Subscribe to our Stock Market Learning Channel:
/ @stockpathshalaofficial
🎥Subscribe to our Vlog Channel
ADB Vlog - bit.ly/adb_vlog
✅Visit Our Website
www.adigitalblogger.com/
✅Visit our Hindi Website
hindi.adigitalblogger.com
00:00 Intro
00:52 Why Brokers Face Tech Glitch
01:36 SEBI’s Circular on IRRA
02:15 Who Are Beneficiary of IRRA
02:15 How IRRA Will Work
07:14 Some Issues with IRRA