Imagine this: you’re a happy customer of a platform you’ve grown to trust. Suddenly, you’re told to shut it all down—not by choice, but due to a compliance policy. That’s exactly what happened to Sachin Jha, a Bengaluru-based product manager.
After his wife joined a prominent global investment bank, Jha received a compliance email instructing him to close all his Zerodha accounts. Why? Because the bank didn’t recognize Zerodha as a ‘trusted’ financial institution—simply because it lacked a physical banking presence. No brick-and-mortar office meant no trust, at least in their books.
Left with no choice, Jha prepared to part ways with a platform he truly liked. But before he closed his account, he decided to take one last shot—he sent an email to Zerodha’s CEO, Nithin Kamath. Honestly, he didn’t expect a reply. After all, how many CEOs respond personally?
The Surprise Came Fast—10 Minutes Fast
To Jha’s surprise, within ten minutes, Kamath responded. And it wasn’t just a polite “Thank you for your feedback.” Kamath’s reply sparked a quick chain of actions from the Zerodha team. They didn’t just acknowledge the issue—they took it head-on.
They admitted there’s still a perception gap between traditional banks and digital platforms like theirs, especially with big financial institutions. They shared that they were actively working to resolve compliance concerns and even asked Jha if he could help connect them with his wife’s bank to better understand the issue and potentially fix it.
Trust Earned, Even When Business Was Lost
In the end, Jha still had to close his Zerodha account. Rules are rules. But what stayed with him wasn’t frustration—it was respect. He took to LinkedIn to share his story, writing: “I still closed my account, but they won my trust for life.”
That says a lot in today’s world where customer service can feel cold and robotic. Here, the CEO himself stepped in to help a single customer.
The Bigger Picture: Trust vs. Tech
This incident reveals the tough terrain digital-first platforms like Zerodha navigate. They may offer seamless online services, but when it comes to trust, many institutions still prefer the old-school model—physical branches, big buildings, visible infrastructure.
Even Kamath has talked about this challenge before. While Zerodha excels in online trading, he knows that in the broader world of finance, “a physical presence is crucial.” But instead of chasing a banking license—something he’s hesitant about due to regulatory headaches—Kamath is focused on building trust through transparency, smart partnerships, and putting customers first.
Final Takeaway
Jha’s experience is more than a customer service story—it’s about how companies can win people’s hearts even when things don’t go their way. Zerodha didn’t just lose a customer—they gained a lifelong advocate. And in the business of trust, that’s priceless.