Zerodha founder Nithin Kamath has quantified the cumulative cost advantage his firm's zero-delivery brokerage model delivered to customers: Rs 25,620 crore in saved brokerage fees between 2016 and 2025. The figure covers equity delivery trades, where Zerodha charges nothing, in contrast to traditional percentage-based brokerage structures that dominated the market before discount brokers scaled. Kamath attributed the pricing model's durability to Zerodha's bootstrapped ownership, arguing that the absence of external investors removed pressure to maximise revenue through aggressive monetisation, advertising, or cross-selling financial products. The logic is structural: a firm with no equity investors to satisfy can absorb foregone revenue that a VC-backed competitor would likely recapture through ancillary fees or product push. For the Indian retail brokerage sector, the figure serves as a competitive benchmark and a pointed contrast to platforms that layer distribution income on top of trading revenue. The number also lands as Zerodha's active user base and market share face pressure from newer, well-funded rivals. Whether the zero-delivery model holds as competitive intensity rises is the operative question.
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.
