Frequent traders irked as ICICI Direct app, website face near outage

Instances of glitches faced by intermediaries in the stock ecosystem are on the rise given the heavy and complex use of technology

ICICI Direct, one of India’s largest brokerages, faced a near outage on Wednesday, with its mobile trading app and website becoming inaccessible to its clients during the initial hour of trade. The development irked frequent traders, who complained of confusion and monetary losses.

“Due to an unprecedented network issue, you may face intermittent issues while accessing your ICICIdirect account. We are working to resolve this as soon as possible. We sincerely regret the inconvenience caused,” the brokerage tweeted around 9:30 a.m. Around 10 a.m., it sent out another tweet stating “all issues are resolved.”

Instances of glitches faced