Nithin Kamath Criticizes Banking App Permissions

Nithin Kamath, co-founder and CEO of Zerodha, publicly criticized net banking applications for demanding excessive and 'invasive' device permissions, such as access to SMS, contacts, and phone data. He argued that these practices contradict the global cybersecurity benchmark, the Principle of Least Privilege (PoLP), which advocates for limiting access rights to only what is strictly necessary. Nithin Kamath contrasted these apps with Zerodha's Kite platform, which he stated requires zero mobile permissions, attributing this design choice to building user trust and aligning with best cybersecurity practices. He also credited the India — Securities and Exchange Board of India's mandatory strong two-factor authentication framework for enabling a balance between security and privacy. This event has sparked discussions around data privacy, app permissions, and cybersecurity standards within India's digital financial ecosystem.