Investor Issues
MCX-SX says Zerodha offering Rs0 per trade on its own

Zerodha is offering a brokerage of Rs0 per trade till March end on MCX-SX. However, MCX-SX clarified that the broker may be offering the discount from its own pocket and the bourse has nothing to do with the offer

MCX Stock Exchange, (MCX-SX), the newest bourse, has clarified that it has not entered into any arrangement with either Zerodha or any other member for offering trading facility for free or without any charges.


Zerodha, which calls itself a “discount stock broker” and claims to have 15,000 trading customers, has been offering brokerage of Rs0 per trade for equity and derivatives trading on the MCX-SX till 31 March 2013.


In an email reply, a MCX-SX spokesperson, said, “We wish to clarify that MCX-SX has not entered into any arrangement, whatsoever, with either Zerodha or any other member. MCX-SX is giving out incentives to all members, as per the circular No. MCX-SX/MEM/973/2013 on 29 January 2013.”


The sibling of India's largest commodity exchange by market share, Multi-Commodity Exchange (MCX), said as per its offer, members who would register (upload) all their clients in the equity and futures and options (F&O) segments on MCX-SX before 15th February, would get an incentive based on the number of client codes uploaded.


Registered Clients 

Incentive Amount (Rs)

100 – 999 


1000 – 4999                


5000 – 7499 


7500 – 9999 


> 10,000 



In addition, MCX-SX is offering Rs100 per client to its members for every client who trades in both equity and F&O segments during February 2013. The Exchange has allocated Rs10 crore for disbursement under the scheme and said in case more than one lakh clients trade during the month, then the payout would adjusted on pro rata basis.


Coming back to Zerodha, it says that as a discount broker it offers fixed price brokerage of Rs20 per trade. It also claims that it is the first discount broker in India which launched the cheapest flat rate brokerage in August 2010. Zerodha says it offers fixed price brokerage without any monthly fees or additional charges like software usage charge.


In other words, if the client trades one lot of Nifty options, he would pay brokerage of Rs20 for buying and Rs20 for selling. Even if the client trades in 10 lots of Nifty options, he would pay the same brokerage of Rs20 for buying and Rs20 for selling the lots.


Zerodha also claims that as of August 2012, it was making an average daily turnover of Rs2,000 crore on the National Stock Exchange (NSE). Zerodha has tied up with ILFS Securities Services for providing demat services to its customers, which has its own charges for its DP services.




4 years ago

Spreading the Speculation
Killing the Investment cult


Should food and bedroll charges on Indian Railway trains be made optional?

For a rail commuter, health is more important and therefore, an increasingly large number of railway passengers are playing it safe by bringing their own food and light bedding. So, why not make food and bedroll charges optional on Garib Rath trains?

If you have ever booked a ticket on a “Garib Rath” class train on the Indian Railways, then you would have observed that the bedroll charges of Rs25 are an optional extra, to be paid for in advance if you want one. This guarantees you a set on these super-fast fully-air-conditioned fully AC-3Tier trains run on high-speed Rajdhani equivalent schedules. Likewise, in case they have ample bedrolls left unused, then you can pay onboard.


Hot fresh cooked food is also supplied onboard, in casseroles picked up at origin and en-route stations, and is mostly ‘dry’ non-gravy. On some routes there is provision for hot water so that tea or coffee, sold separately with paper cups, can also be consumed. By and large, Garib Rath trains operate like low-cost no-frill airlines—and do away with the additional cost as well as liability of lugging a full pantry car along. This saving is then worked back into the ticket price—which makes the AC-3T option on a Garib Rath about the best way to travel by train in India.


Moneylife Foundation recently conducted an event on Mumbai Railway: How to deal with accidents, corruption and chaos. Click here to read more…


It also reduces the generation of waste and packaging material, thrown as garbage along the way, because the “dry hot cooked meal” is provided in simple cardboard boxes—without any of the usual plastic or foil.


On the other hand, bedrolls are now part of the ticket price on all air-conditioned classes, and hot cooked food of the wet and gravy sort served at your berth or seat is part of the ticket price on Rajdhani, Duronto and Shatabdi class trains. This used to be a reasonable concept till a few years ago, but there are issues now, which make it essential that the Indian Railways take a fresh look at this whole concept.


Starting with the bedrolls—as is perceived, it is apparent that the blankets don’t go for a dry-cleaning or suitable freshen up for 10-15 journeys. Pillows, likewise. Bed sheets appear to be re-used, especially in AC-3T while hand-towels appear to be fresh. There are simple economic reasons for this. However, as a rail user, that is of no consequence to me, since my health is more important. You can actually now buy a brand new half-way decent blanket with two bed-sheets for a couple of hundred rupees outside most railway stations, or you can bring your own from home, and use your own towel as a pillow. Anything would be, in most cases, better than what is supplied on our trains now.


Food—what used to be often a memorable meal on trains, especially the Rajdhanis, is now more like a “eat and be done with it” experience, especially in AC-2T or 3T. Sure, the hot soup is welcome, but after that—the breadsticks have started tasting of maida gone bad, yellow salted butter is not good for us, the “chocolate éclairs” are made of hydrogenated oils, the curries are watery at best and the “ice-cream” is what is known as “frozen dessert” or coloured flavoured vanaspati. About the rotis and rice, the less said the better.


Indian Railways looks at toilets as a way of making money!


For that, and for the pleasure of serving a fresh cooked meal to the VIPs in AC-First, some of these Rajdhani Express trains now lug two full pantry cars on their journeys. Apart from the huge cost incurred, there is also the risk to passengers on trains, of accidents and fires caused because of this.


It is about time food and bedrolls were made optional extras on these trains, with a higher charge levied to set off better quality, for those who want to eat onboard. There is an increasingly larger and growing number of railway passengers who are playing it safe, by bringing their own food and light bedding, who would also benefit.


(Veeresh Malik had a long career in the Merchant Navy, which he left in 1983. He has qualifications in ship-broking and chartering, loves to travel, and has been in print and electronic media for over two decades. After starting and selling a couple of companies, is now back to his first love—writing.)




4 years ago

The article shows that either Mr Veeresh Malik is not a regular commuter of our railways and prefer aerial ways only or he uses rail for vanity purpose. Otherwise for a regular commuter of rail even these small bedrole & pantry is a real boon in long distance journey. As a armed forces member for last 27 year, i still remember those days when we had to carry a huge bed holder for our 2-3 days travel time or fend for the food from some obscure stations hawker.
At least this maida/hyd oil/waterry curry is hygienically prepared compare to that hawkers curry prepared by the side of some urinal/high-drain.
Mr Malik before writing some eye-ball catching article, think in totality. We have immense respect for you. You have a fantastic knowledge across the field. Don't abuse your strong points for the sake of earning some cheap popularity by writing any thing and everything against the government. We need this rail with some minimum & decent facilities. It took more than 30 years to reach the standard of rail to this stage, kindly don't destroy it with your tactical ranting.

Bharat Joshi

4 years ago

We never touch the food although paid for. Should be made optional on all trains. Recently they found a rat in rice on a train to Surat.

WPI inflation declines to 6.62% in January

The easing of January inflation would provide the much-needed comfort to Reserve Bank of India, which had projected March-end inflation at 6.8%

The Wholesale Price Index (WPI) based inflation fell to 6.62% in January, declining for the fourth month in a row, despite rise in prices of food items like vegetables, onions and rice. The headline inflation had stood at 7.18% in December and 7.24% in November. It was at 7.23 % in January 2012.


Further, inflation in manufactured items category too witnessed a decline and stood at 4.81% in January, according to official data.


Inflation in food articles, which have a 14.3% share in the WPI basket, however witnessed an increase as onion prices shot up during the month.


Inflation in the food articles category was at 11.88% from 11.16% in December.


Onions became expensive by 111.52% during January from 69.24% in December 2012.


While rice became costlier by 17.31% in January, from 17.10% in December, vegetables became dearer by 28.45% from 23.25% in last month.


Inflation in wheat and cereals stood at 21.39% and 18.09% respectively in January.


Potatoes were expensive by 79.07%, while inflation in pulses was up 16.89%.


While, inflation in eggs, meat and fish stood at 10.81%, that of milk rose up 4.47% and fruits by 8.42%.


For the fuel and power category, it moderated to 7.06% in January, compared to 9.38% in the previous month.


The easing of January inflation would provide the much-needed comfort to Reserve Bank of India, which had projected March-end inflation at 6.8%.


The central bank had last month lowered interest rates by 0.25% saying that with inflation showing signs of remaining range bound, it was now critical to arrest the loss of growth momentum.


We are listening!

Solve the equation and enter in the Captcha field.

To continue

Sign Up or Sign In


To continue

Sign Up or Sign In



The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)