India, June 4 -- Discount brokering major Zerodha has announced new measures to revive customer interest amid increased competition in the space.

Starting June 1, the brokerage firm has eliminated account maintenance charges (AMC) for all new users for the first year of use. It has also initiated offering refunds on depository fees for transferring existing stock portfolios.

"Both changes are meant to remove small costs that often feel bigger than they actually are when you're just getting started or switching brokers," Zerodha said in a blog post today.

The transfer fee refund is aimed to ease the process of consolidating one's portfolio on one platform. Brokerages typically levy a fee of around Rs.10-30 per stock on individuals trans...