Sharekhan and 14days password renewal policy

#1
Friends,

This is something which is making me really mad against Sharekhan. Recently they have introduced a policy where your password expires every 14 days (Yes you read it right 14 days :mad: ) and you have to change your password before this 14 days. If you by mistake forget to change it, you will not be able to reset the password using the previous password and you have to call them and ask them to send a password which takes three precious days of trading out of your days!!

I wrote to their customer support and also escalated to their management but they did not give satisfactory response. One of them replied back saying it is a rule of NSDL or SEBI regulation. I asked them back why it is not implemented by other brokers and no one replied.

If you guys do not agree with this 14 days password menace, please do send individual emails to sharekhan and put pressure. Maybe many voices will make them bend???

Regards
Satish
 
#2
Hello Satish,

I am client of India Bulls & they also ask to change password every 14 days. But I am not sure whether I will not be able to reset password after deadline bcoz that situation has not come to me. Beside this IB clients need 2 password....one for login & second for trading......intially i was too much in truoble due to this policy....changing password fortnightly & remembering two passwords...:mad: ...various times i forgot password.......now i have found a way for this......i need to remember only one password......one in small letter & same characters in CAPS for other.....when password expires I change vise versa......e.g.
PWD for login - XYZ$0
PWD for Traing - xyz$0

After expiry -
PWD for login - xyz$0
PWD for Traing - XYZ$0
.
.
.

:D

K.S.Kachhwaha
 
#3
These policies are for the safety of Online Investors. One of the major precautionary steps to safeguard against online frauds is to change passwords on regular intervals. However, most of the users forget to do this or simply ignore it. It's a very good move and you guys must welcome it.
It's better to be Safe than Sorry

Mr. Kachhwaha,
You are exposing yourself to a very huge risk by managing your passwords in the outlined manner. One of your passwords is known to anybody and I bet he will know the other password as well. Hackers take benefit of this human psychology very well.

Market losses may still take time to wipe out your capital but a hacker will need only seconds. Atleast for once, thank your brokers for introducing this stringent policy.

Best Regards,
--Ashish
 

murthymsr

Well-Known Member
#4
cemcompusoft said:
Hello Satish,

I am client of ........
.....when password expires I change vise versa......e.g.
PWD for login - XYZ$0
PWD for Traing - xyz$0

After expiry -
PWD for login - xyz$0
PWD for Traing - XYZ$0
.
.
.

:D

K.S.Kachhwaha
hi ks,

the purpose of passwords & change of passords is to make your account secure and NOT to trouble you or test your memory.

there are innumerable pasword crackers available (and a good number of them free too). each person adopts some methodology, which will protect him against such password cracks and still chances of forgetting the password is rare. the protection, in some cases, may be required from people, not on net, but moving in close proximity (employees of ISP, browsing center & in some cases, even the family members). there are software which will record every keystroke, which the user will not be even awere of.

one may use any methodology in selecting the passwords or in following any pattern, cyclic or otherwise.

so, it is essential to keep not only the password, but also the methodology adopted in selecting the passwords & in changing/rotating them a confidential matter.

all the best.
murthymsr
 

shrinivas

Well-Known Member
#5
cemcompusoft said:
Hello Satish,

I am client of India Bulls & they also ask to change password every 14 days. But I am not sure whether I will not be able to reset password after deadline bcoz that situation has not come to me. Beside this IB clients need 2 password....one for login & second for trading......intially i was too much in truoble due to this policy....changing password fortnightly & remembering two passwords...:mad: ...various times i forgot password.......now i have found a way for this......i need to remember only one password......one in small letter & same characters in CAPS for other.....when password expires I change vise versa......e.g.
PWD for login - XYZ$0
PWD for Traing - xyz$0

After expiry -
PWD for login - xyz$0
PWD for Traing - XYZ$0
.
.
.

:D

K.S.Kachhwaha
hi dear,
you cannot keep any of the last 3 password...eg you kept your password mahesh..then you changed ramesh....you cannot keep any of the passwords mahesh or ramesh the third time..suppose 3rd time you keep umesh....then 4th time you can make it mahesh but not ramesh or umesh...hope you got it...

what i mean is your current password should not match with any of the earlier 3 passwords....I always faced this idiotic problem with Indiabulls alongwith many of the other problems.......I dumped it.....

ganeshhity
 
#6
ganeshhity said:
what i mean is your current password should not match with any of the earlier 3 passwords....I always faced this idiotic problem with Indiabulls alongwith many of the other problems.......I dumped it.....

ganeshhity
Ganesh,

This issue might cause some problem but then creativity in designing passwords help you protect yourself better.

This problem, even if you perceive it to be so, was not idiotic but highly intelligent.

Best Regards,
--Ashish
 
#7
ganeshhity said:
hi dear,
you cannot keep any of the last 3 password...eg you kept your password mahesh..then you changed ramesh....you cannot keep any of the passwords mahesh or ramesh the third time..suppose 3rd time you keep umesh....then 4th time you can make it mahesh but not ramesh or umesh...hope you got it...

what i mean is your current password should not match with any of the earlier 3 passwords....I always faced this idiotic problem with Indiabulls alongwith many of the other problems.......I dumped it.....

ganeshhity
Hello ganeshhity,

:confused: I am confused why you are not able to repeat password while I am repeating since last 2-3 months (since when IB have adopted 2 password policy)....

Eearlier when there was only one password policy....i was able to repeat same password everytime they ask to change...e.g. let my password is xyz..when they ask to change password...i enter xyz as old & new password....

But I cannot do this now...but can change password vice versa for Login & Trading.

But from now I am not going to do this after kind suggestion of Ashish & Murthy...to avoid any hacking....Thanx to both of you...

K.S.Kachhwaha
 

Similar threads

Zerodha – Open Paperless Account

Open online account with Zerodha. Free delivery trading and Max Rs 20 for Intraday, F&O, Currency and Commodity Trading. Intraday High leverage with MIS, CO and BO.

Name:Phone:
Email:City:
State:
Are you a day trader?