over 50% of all retail trades in India originate from Bengaluru: Nithin Kamath

Industries department is open to exploring a Fin Tech Innovation Zone/City: MB Patil

Suggestions from netizens included JP Nagar, HSR Layout and Chickpet

Nithin Kamath, Founder and CEO of Zerodha, an online financial services company, stoked an intriguing debate on X (formerly known as Twitter) by suggesting that Bengaluru might find utility in having the Mumbai-equivalent of a Dalal Street, the street wherein the Bombay Stock Exchange is located. “Bengaluru maybe needs a “Dalal Street” as well. Symbolism to indicate that over 50% of all retail trades in India, in a way, originate from Bengaluru, either from brokers or their tech teams based out of here. 13 years ago, when we were first starting, the first question asked by many was, who starts a brokerage firm in Bengaluru?(sic)” he posted. 

Bengaluru maybe needs a “Dalal Street” as well. 😬

Symbolism to indicate that over 50% of all retail trades in India, in a way, originate from Bengaluru, either from brokers or their tech teams based out of here.

13 years ago, when we were first starting, the first question…

— Nithin Kamath (@Nithin0dha) October 13, 2023

Cabinet Minister for Large & Medium Industries and Infrastructure Development in Government of Karnataka, MB Patil was in concordance with this suggestion. “Absolutely agree! If there is plausible demand, Industries department is open to exploring a Fin Tech Innovation Zone/City. I’m sure Priyank Kharge (Minister for IT/BT and Rural Development & Panchayat Raj in Government of Karnataka) also has a bright vision for Fin Tech roadmap in Karnataka (sic),” he stated in response to the post. 

Netizens indulged in a discourse regarding which place can be accorded this privilege with suggestions including HSR Layout that houses many Fintech companies, JP Nagar, a place dear to Nithin Kamath and Chickpet.