(MENAFN- Live Mint) A social media exchange between Zerodha co-founder and CEO Nithin Kamath and investor Dr Aniruddha Malpani has sparked a conversation about withdrawal limits and customer service in India's fintech sector.

It began when Dr Malpani took to X (formerly Twitter) to allege that Zerodha was not allowing him to withdraw his own funds from his account.“The Zerodha scam! They don't allow me to withdraw my own money from their account, saying the daily limit for withdrawal is ₹5 crore. They use my money for free!” he wrote.

Kamath responded directly to the post, clarifying that the withdrawal limit was part of the firm's internal safety checks rather than a restriction on access to funds.“Hi Dr, your payout requests were processed yesterday. We need to ensure, for the sake of our systems' sanity (like all other financial services firms), that we have some checks in place when clients withdraw funds,” he explained.

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He added that once a withdrawal is processed, there is no way for the company to recover funds in case of errors or fraud.“Hence, ₹5 crore is the threshold at which we ask customers to create tickets to withdraw,” Kamath said.

Dr Malpani, however, pushed back, suggesting that the process was cumbersome.“Yes, I understand. My point is you are transferring the burden on the user. Your system can easily flag high-value transactions, and your customer service team can email and phone the user to confirm that it's a valid transaction. Why make me do the work?” he replied.

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The exchange quickly gained traction online, drawing mixed reactions from users. Many appreciated Kamath's transparency and hands-on approach, especially after entrepreneur Vedant Lamba quipped,“When your complaint involves ₹5 crore, Nithin himself is your customer service rep.”

Several users praised the Zerodha CEO for addressing the issue personally, with one comment reading,“Faith restored in Zerodha.” Others said the conversation highlighted the balance fintech platforms must strike between customer convenience and system safeguards.

A user wrote,“When your complaint involves >5cr Nithin himself is your customer service rep.”

Another user tagged Grok and wrote,“Grok prepare a step by step plan of how to become so rich that the CEO of multi million firm personally resolves my query.”

"This is not about ₹5 crores. It is about the line between a fintech platform being a "service provider" and becoming a“gatekeeper.” Kamath's reply is technically correct. Malpani's complaint is emotionally valid. The real issue is systemic: Unclear UI & no industry standard from SEBI for what "customer access" truly means at scale," a user shared.

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Zerodha, India's largest retail brokerage platform, is known for its no-frills approach and minimal customer service footprint - a model that has often sparked both admiration and debate among its vast user base.

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