Nithin Kamath criticised the issue of the NSE circular on August 14, 2024, through which the brokers were unable to share any brokerage as a "referral incentives" unless that individual was registered as an "authorised person" with the exchanges. He said, "This is another one of those circulars that will hurt the business." He said Zerodha would stop its referral programme and make one-time payouts for whatever is due. However, the company would still have to continue to give out reward points every time a person refers a customer to the company. He said, "By the way, 12.4 lakhs of our customers have referred at least one client to date."Bhavish Aggarwal Announces Ola With ONDC Building Future of Commerce Involving Kirana and Small Merchants.

Zerodha CEO Nithin Kamath on NSE's Circular of Last Week

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