Nithin Kamath says Robinhood makes Rs 1,300 crore from just instant withdrawals, calls US banking system ‘broken’
Zerodha co-founder Nithin Kamath on Tuesday drew a sharp comparison between India’s payments infrastructure and that of the United States after revealing that US-based brokerage Robinhood earns nearly Rs 1,300 crore ($150 million) every year just from fees on instant withdrawals. In a post on X, Kamath said Robinhood’s cost to process these instant transactions…