Zerodha CEO Nithin Kamath Criticises Decision by NSE Over Issuing Circular Last Week, Says ‘Another Circular That Will Hurt the Business’
Nithin Kamath said that the recently issued circular by NSE would hurt the business as it stops brokers from sharing brokerage as "referral incentives" unless registered as authorised person. Check more details here.
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
NSE issued a circular last week stopping brokers from sharing any brokerage as a referral incentive unless that person is registered as an authorized person with the exchanges. This is another one of those circulars that will hurt the business. 😬
So, we are stopping our… pic.twitter.com/cQgAAl5tGH
— Nithin Kamath (@Nithin0dha) August 21, 2024
(The above story first appeared on LatestLY on Aug 21, 2024 06:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
