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Zerodha, premier online digital brokerage firm, has announced a new platform for gifting stocks, ETFs, and gold bonds to relatives and friends. The company will soon enable gifting of mutual funds to minors(less than 18years) as well, it said in a statement. Commenting on the development, Mr. Nithin Kamath, Founder & CEO, Zerodha, said: “One of the things we always wanted to do at Zerodha for a long time was to make gifting stocks, mutual funds, and bonds easier, but making the process seamless and online wasn’t possible. Thanks to the recently introduced CDSL’s e-DIS (Electronic delivery instruction slip), we now have built a platform to gift stocks, ETFs, and gold bonds to your friends and loved ones”. Earlier, the only way to gift stock was to execute an off-market transfer by filling up a physical delivery instruction slip and then sending it to Zerodha to complete the transfer.
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