Tejas Khoday

Co-Founder & CEO, FYERS
Hi did you get a chance to discuss with your team?
It's a back-office functionality. Monthly expiry options are not being levied brokerage but weekly bank nifty options were launched much later so in that brokerage for expired options is being charged. We have communicated with the back office software company to change it so that brokerage is not charged.
 

Tejas Khoday

Co-Founder & CEO, FYERS
@Tejas Khoday

Nice to read that you were the first one to highlight the need for the introduction of trading in cross currency pairs in Indian context.
But I have always felt that can it really help Indian traders a lot as timing of trading till 7:30 pm will not let the real movement be covered when the US markets are open. When the US mkts will open we will close the session.

Whats your take ?
Yes, you're right. Ideally, the timings should include US hours because that's where all the action is. In spite of extending trading hours to 7.30 PM, the overnight risk is high. I guess, with time it will eventually converge with the International norms.
 

Tejas Khoday

Co-Founder & CEO, FYERS
Well, the task of identification is only meaningful with regard to a broad purpose and it should be handled separately for every such purpose.If IDs are found wanting for a specific purpose, the intent should be to fix that instead of linking everything under the sun to one all-powerful Aadhaar failure/breach of which can amount to "digital death" where personhood is lost and the consequences are grave, especially for those less privileged. (you dont have to trust me, please look online for examples ). Why on earth would anyone support a unified system to "track everybody" ? If you think about it, Aadhaar isnt even the answer to the problem you say it solves because it needs to be seeded with a pre-existing proof of identity.

I would agree that the purpose of Aadhaar has some merit but the architecture itself is flawed, not just the implementation. It is a centralized database which allows for aggregation of unrelated silos of online information and facilitates profiling / surveillance ( whether or not there is intent on the part of the govt to do that is immaterial, having to trust their benevolence isnt what the cosntitution requires of a citizen ).It shifts the burden of proof of identity from the state to the citizen. Mandatory collection of biometrics in itself poses a serious problem. You can change your password but, if compromised, not your fingerprints.

Still, if you think that the problem lies only with the implementation, even a failure on that front alone is unacceptable if it leads to exclusion to the point that someone is denied basic human rights because if it. (Again, you can find news pieces online documenting the same ) The expansion of Aadhaar has been reckless and grossly disproportionate to the scope of the problems it was supposed to solve ( like deduplication and related illicit activities ) and many of the government's lofty claims about it's benefits have been shown to be false by eminent economists like Reetika Khera and Jean Dreze. I dont mind a digital ID if it is limited in scope ( like Public Dist Systems for welfare schemes and such and even there it should NOT be the only method of identification ) not shoved down our throats and if it is backed by a cogent legal framework to addesss issues regarding protection from violation of fundamental rights etc. No such framework or robust privacy laws exist today in the country. You should perhaps follow the proceeedings in the SC cases to find out what I am talking about.Anyone familiar with the evolution of SSN since its introduction in the 1930s can tell you that there is a world of difference between the way SSN works and the all pervasive intent and flawed legislation of Aadhaar.
I am inclined to agree with you. This is not what I think should happen, but that's what the administration thinks and that is what will eventually happen in my opinion. Public distribution of welfare benefits is just one of the purposes and it sounds socially acceptable so it is announced like it is the only purpose. But eventually, it will come to encompass everything else, including criminal records, tax payments record, credit status etc. This is my educated guess because "one thing leads to another". The administration of the future will work with what is made available to them. So at that point in the future, it will be a no-brainer.
 
I am inclined to agree with you. This is not what I think should happen, but that's what the administration thinks and that is what will eventually happen in my opinion. Public distribution of welfare benefits is just one of the purposes and it sounds socially acceptable so it is announced like it is the only purpose. But eventually, it will come to encompass everything else, including criminal records, tax payments record, credit status etc. This is my educated guess because "one thing leads to another". The administration of the future will work with what is made available to them. So at that point in the future, it will be a no-brainer.
Well, there is hope still for the citizens in the form of petitions filed in the apex court challenging the constitutionality of Aadhaar act. There is a good chance that it will be ,at the very least, limited in scope or perhaps even struck down. The contours of applicability and concomitant laws to protect fundamental rights will emerge with time. And for that we can thank the judiciary and people who are not content to be mere spectators to the developments in the country. Participation and holding the government accountable, after all, form the very essence of a democracy. There are reasons galore to be jaded/cynical but , in this instance, I am a little more hopeful than you.

Thanks for the conversation, Tejas.

My apologies to the members for this digression.
 

Tejas Khoday

Co-Founder & CEO, FYERS
Well, there is hope still for the citizens in the form of petitions filed in the apex court challenging the constitutionality of Aadhaar act. There is a good chance that it will be ,at the very least, limited in scope or perhaps even struck down. The contours of applicability and concomitant laws to protect fundamental rights will emerge with time. And for that we can thank the judiciary and people who are not content to be mere spectators to the developments in the country. Participation and holding the government accountable, after all, form the very essence of a democracy. There are reasons galore to be jaded/cynical but , in this instance, I am a little more hopeful than you.

Thanks for the conversation, Tejas.

My apologies to the members for this digression.
Appreciate your thoughts. Although I don't delve too much into these matters, strong voices are always a good thing. What is your profession?
 

Tejas Khoday

Co-Founder & CEO, FYERS
Folks, Upon winning the 30 Day Challenge, we will be issuing a certificate of achievement as shown in the attachment with "Your Name". All certificates will be issued on or after the 5th of every month and the date mentioned will be the date of the successful completion of the challenge. In the future, consecutive winners will be acknowledged in a separate certificate as well.

30 Day Challenge Certificate - Sample (1).png