Zerodha's Nithin Kamath warns equity deliveries will no longer stay free due to MDR on UPI, says brokers c
- Posted on September 16, 2026
- By Business News Today
- 1 Views
- 1 min read
In brief
Zerodha's founder raises critical concerns about the financial sustainability of free equity delivery trading in India. The introduction of Merchant Discount Rate charges on UPI transactions could fundamentally reshape broker business models, forcing platforms to reconsider their cost-free trading offerings. This analysis explores how regulatory changes impact retail investors and the competitive landscape of discount brokerages across the Indian financial markets.
Summary auto-generated by AI from the original publisher's content. Editorial standards.
Zerodha's Nithin Kamath warns equity deliveries will no longer stay free due to MDR on UPI, says brokers c
Zerodha founder Nithin Kamath has said the proposed Merchant Discount Rate (MDR) on UPI transactions could end free equity delivery trades, warning that brokers cannot keep absorbing a charge that applies to every transfer regardless of whether a trade happens.
