Over a decade of trading the markets for a living.  Felt the fatigue, and with Zerodha decided to be the catalyst for change and started a brokerage firm that traders didn't have. 
Musings on finance, business, and life: https://nithinkamath.me/

Nithin Kamath

Dang! I have my first AI agent running. I built a small workflow for myself to identify spam emails using Google Studio. The best part about the tool is that you can define the rules. For example, this is one of the rules (image):

Spam emails are my biggest personal problem. I was wasting at least 30 minutes a day marking emails as spam, even with different filters. And I’m addicted to seeing my inbox empty.

So, to everyone who has been sending me unwanted emails: please spam my inbox now. 🙂

Founder & CEO at Zerodha & Rainmatter. Learning at Rainmatter foundation. Views are personal. Nothing here is advice.

Watched the Dinosaurs documentary on Netflix this weekend. Highly recommend, especially with kids.

Dinosaurs ruled this planet for 165 million years. Then an asteroid they never saw coming ended it all in a geological blink.

Put that in perspective.

Humans with abstract thinking, art, and complex language, what we'd call truly modern humans, have existed for maybe 50,000 to 100,000 years.

Civilisation as we know it? Writing, cities, organised society? Maybe 5,000 years.

The version with industrial-scale technology, global trade, and the ability to reshape the planet? Barely 200 years.

And the version with nuclear weapons, AI, and the ability to end all of it? Less than 100 years.

We solved the asteroid problem, by the way. NASA can now track and deflect them. The thing that wiped out 165 million years of dinosaurs, we've figured that one out.

And yet billions are being spent daily on war and destruction, making an already bad climate situation even worse.

The threats coming from the universe are becoming manageable. The ones we're creating ourselves, not so much.

The dinosaurs had no choice. The asteroid just came.

We do. That's what makes what's happening right now so much harder to watch.

My feed is filled with people vibe coding all sorts of financial tools using Kite APIs like portfolio dashboards, backtesting setups, market insight tools, and even automated trading setups. A lot of these things are useless but there are some genuinely well thought out tools, built to solve very specific problems that traders and investors have.

And most of these people have never written a line of code in their life. Just plain English and AI coding tools like Claude Code, Codex, etc.

If you have FOMO to try these tools but don't know where to start, try our MCP plugin first. Connect it to your Zerodha account and just start asking it things. You get a real sense of what's possible before you start using AI coding tools.

Link in the comments.

When you sell stocks, your shares are debited from your demat account and delivered to the clearing corporation for settlement. This debit is what attracts a DP (Depository Participant) charge. At Zerodha, this is ₹13.5 + GST per transaction (includes ₹3.5 depository fee).

Most brokers charge a flat DP fee. But some charge a percentage of the sell value. A 0.04% DP charge = ₹400 on a ₹10L sale. Low brokerage + high DP charges. Doesn't make sense.

Another thing to watch: some brokers charge DP fees on every sell transaction. If you sell Reliance 4 times in a day, you pay 4 times. At Zerodha, we charge DP fees once per stock per day, no matter how many times you sell it.

DP charges don't show up like brokerage does, so most people miss it. It's worth checking what you're actually paying. These things add up.

Why a DP charge in the first place?

Every time you sell shares, your broker's DP (Depository Participant) takes on the effort of ensuring the trade settles. This means debiting the shares from your demat account and delivering them to the clearing corporation. The depository levies a fee for this, and we charge a small fee on top for facilitating it. This adds an additional risk for us.

Our Loan Against Shares (LAS) business just crossed Rs 500 crores. 

It's a business that we hadn't spoken about much for a long time, for a variety of reasons, including regulatory. But the reason why we offer LAS via Zerodha Capital is that it's a secured product. 

The other reason is that I think it's a good way to help clients clear their high-interest loans, like personal loans, credit card dues, etc. You'd be shocked at the number of people with investments who haven't heard of LAS and end up taking personal loans.

2023: LLMs generate random strings of text and "hallucinate."

2026: Linus Torvalds, creator of Linux, says LLMs can generate code better than he can write.

It's remarkable how good these large language models have become in such a short span of time, to the point where they're on par with, or better than, humans across numerous domains.

Kailash Nadh recently wrote a brilliant post about how software development, as we've known it for decades, is over. He's far from alone; many people at the forefront of technology are saying the same thing. And replace "software" with almost anything else, and the statement still holds. What are the new frameworks and methods going to look like? 😬 Here's an excerpt on how LLMs are helping him:

"As a developer with a bottomless wishlist of things I wished I could have done or tried, I've been able to use LLM tools to not just rapidly prototype and validate complex ideas, but actually write good quality, production-grade software (my own subjective metric, of course) with better code than I could have written manually. Things where I knew exactly what had to be done but was constrained by physical limits, and also things that were unclear to me and needed novel ideas, approaches, and leaps. All the while, learning and deepening my own understanding.

The physiological, cognitive, and emotional cost I generally incur to achieve the software outcomes I want has undoubtedly reduced by several orders of magnitude. The time and bandwidth this has freed up, I now spend on engineering, architecting, debating, tinkering, expanding my imagination, and writing much more concise and meaningful code, the code I actually want to write.

Remember the old adage, "programming is 90% thinking and 10% typing"? It is now, for real."

What's made this real for me is watching Karthik Rangappa 🇮🇳 build his own website, complete with a quiz, with zero programming knowledge. This is a guy who used to play words like "Dog" and "Fan" in Scrabble. I now have full FOMO. 😄

Links in the comments.

We've been trying to understand RBI's new lending rules for brokers. Spoke to a few industry folks to figure out what's actually changing. TL;DR: quite a bit. Here's my understanding—things are still evolving

Firstly, nothing changes for any of our customers. We have 0 external financing, and are a self-clearing member, so our charges for clients will also remain unaffected.

The big change: Banks can no longer fund proprietary trading. This was never actually allowed, but banks had found workarounds. Here's how it worked—prop desks would deposit an FD of Rs 50 crore, get a bank guarantee for Rs 100 crore, and place it with the clearing corporation for margins to trade with 2x leverage. That's now completely shut down.

Another change: Professional Clearing Members (PCMs) enjoyed lower collateral requirements—they only needed 25% collateral to get a Rs 100 bank guarantee, while other intermediaries had to put up 50%. That preferential treatment is now gone. PCMs also need 50% collateral going forward. This likely means higher costs for brokers who rely on PCMs for clearing. Doesn't impact us at Zerodha since we self-clear across all segments.

Costs are rising across the board for brokerages, and this may or may not get passed to you, the customer.

Now, because of this circular, intraday funding will get more expensive with the new 100% collateral requirement (up from 50%). MTF financing will also likely cost more since banks now need 100% collateral with at least 50% as cash or cash equivalents. All of this kicks in from April 1, 2026.

Check the link for more in the comments.

MTF is booming, but here’s the catch: many traders track the interest rate and ignore brokerage. Brokerage on MTF can add up faster than you think 😬

MTF is a leveraged product, so you are already taking a significant risk. If you don’t pay attention to costs while using leverage, the math gets worse because your breakeven point moves higher for the trade.

Rule of thumb: on shorter holding periods and smaller price moves, brokerage can be the difference between breakeven and a loss.

Nutrazee

Founder

Jagzee Enterprises

Business Development Manager

Mitzee Overseas Pvt Ltd

Director/CEO

Apps Associates

Software Engineer

Work includes: Enhancing the product, giving product support to the customer, building up a new module in the product as per client's requirement. 

*Products:
Premier Enterprise Shipping  Application integrated with  Oracle Applications.

Associate Consultant

National Informatics Centre

As part of JNTU curriculum for main project in the final semester, did an internship for a period of five months at the National Informatics Centre.

Worked on ePanchayat-PRIs Project.
ePanchayat-PRIs, a Flagship project, for computerization of Panchayat Raj Institutions
(PRIs) in AndhraPradesh. The project has been designed and developed by NIC APSC
Hyderabad for Panhcayat Raj department in AP. The common applications developed
and implemented are RTI Act, Auctions, Elected Representatives, Personnel information
of employees, Meetings and Resolutions, Court cases, Audit, Grievance Redressal,
Inspections and Disciplinary cases. It is proposed to develop the SMS services on
wireless mode under “e-Panchayat – Wireless Services”.

The SMS services are provided via a cell phone connected to the computer. This cell phone
acts as a GSM modem to send/receive SMS.

Project Trainee

Present: Health & Wellness Industry from 2015


Past:
Java Professional with significant experience in Information Technology. Possess the
aptitude in Java Web Applications. 

Specialties: e-commerce, Java, JavaScripts, JSPs, Java Struts, HTML, CSS, XML, Java Webservices, Logistics,  Oracle E-Business Suite, Oracle Applications, Android Development, ADF Mobile, Wordpress

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