‘Please Don’t Come After Us’: Jay Kotak Tells Zerodha’s Nikhil Kamath

At the Global Investors Meet 2025 in Bengaluru, Jay Kotak, co-head of Kotak811, lightheartedly remarked about the fintech firm, Zerodha’s influence in the financial services sector.

"You've already disrupted the broking business, please don't come after us," Kotak remarked prompting laughter from the crowd.

About Zerodha

Founded in 2010 by brothers Nithin and Nikhil Kamath, Bengaluru-based brokerage company Zerodha stirred the industry with its low-cost, tech-driven model. 

Zerodha offers zero brokerage on equity investments and flat fees for trades, attracting over 1.6 crore users managing assets worth ₹6 lakh crore.

Despite its success, the fintech startup has struggled to expand into banking. In an earlier interview, Nikhil Kamath said, "We really want to be a bank. However, we have tried over the last many years, but we have not been allowed to."

Zerodha co-founder Nikhil Kamath replied to Jay Kotak, "We won't get a licence even if we wanted," sharing the regulatory barriers fintech firms face in entering the banking sector.

The panel discussion at the Global Investors Meet was titled 'Leading the Charge: Young Innovators Shaping India’s Future' and moderated by Zerodha's Nikhil Kamath.

Other speakers were Parth Jindal, MD; JSW Cement, Jay Kotak Cohead, Kotak811 and  Suzannah Muthoot, Executive Director, Muthoot Housing Finance Company.

While discussing, Jay Kotak acknowledged India's gap with the U.S. in financial services, mentioning both human and financial capital as the key differentiator. "We need to do a better job in attracting better talent. In comparison, we have a lot to catch up on," he said.

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