Kamath, the CEO and co-founder of India s leading brokerage Zerodha, said fintechs in India face the real competition from the branches of all banks. This is because each branch of a bank sells multiple products from loans to investments to insurance and much more.
Kamath urged people who are facing such harassment from loan agents of “shady and illegal predatory loan apps” to file a complaint with the government’s National Cyber Crime Reporting Portal (NCCRP).
Under two-factor authentication, the first factor in a login is a password, but it has the risk of being easily compromised. The second is an additional factor to secure your account, which has biometric authorization, TOTP (time-based expiring codes) etc. This makes account compromise much harder.
Fraudsters are impersonating delivery companies like FedEx and Blue Dart, warning users of a new threat, said Nithin Kamath, CEO of India s leading broker Zerodha. An employee of Kamath s was called by a person claiming to be from FedEx, demanding money to release a package that the police had simply confiscated due to drugs being found inside.
If India has to become a $5 trillion economy and more, wealth creation from businesses doing well has to be local, the Zerodha founder and CEO further said.