Zerodha founder Nithin Kamath has disclosed that the firm has foregone ₹25,620 crore in potential revenue by maintaining its zero-brokerage model on equity trades, framing the decision as a deliberate commitment to customer trust over margin extraction. The figure quantifies the cumulative cost of avoiding fees and revenue tactics that are standard practice across India's retail brokerage industry. The mechanism is straightforward: where competitors layer in transaction fees, account maintenance charges, and ancillary product cross-sells, Zerodha has structurally opted out, accepting lower revenue per user in exchange for retention and brand credibility. That trade-off is under new pressure. SEBI's recent changes to the equity derivatives fee structure have already compressed Zerodha's core revenue base, making the zero-brokerage pledge more expensive to maintain going forward. Kamath's public framing of the ₹25,620 crore figure reads as both a trust signal to retail clients and a preemptive narrative ahead of any potential model adjustments. Watch whether Zerodha sustains the policy through the next regulatory cycle or begins introducing selective charges.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
