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Tag: Nithin Kamath

  • Zerodha CEO Nithin Kamath highlights difference between marijuana, hemp: ‘Doesn’t get you high’ – Medical Marijuana Program Connection

    Zerodha CEO Nithin Kamath highlights difference between marijuana, hemp: ‘Doesn’t get you high’ – Medical Marijuana Program Connection

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    Nithin Kamath, co-founder and CEO of Zerodha, took to Twitter on Saturday to discuss the differences between hemp and marijuana, as well as the latter’s advantages as a superfood and the fact that, unlike marijuana, hemp ‘doesn’t make you high’.

    Hemp, (cannabis sativa)generally known as industrial hemp, is a plant in the Cannabaceae family that is grown for its edible seeds or bast fibre. Some people confuse hemp with the cannabis plants that are used to make the drugs hashish and marijuana.

    “Hemp belongs to the Cannabis sativa family—the same as marijuana. They look similar, but hemp is versatile and has multiple uses, including as a superfood. It’s also good for the planet,” Kamath said. “Unlike its notorious cousin, hemp doesn’t get you high. Partly why it isn’t popular.”

    Hemp and marijuana are closely related and sometimes confused with one another, the wealthy businessman continued, which is one of the reasons it isn’t more widely used.

    Nithin Kamath chooses to spread awareness and says, “I learned about hemp when evaluating a startup working on hemp protein. We’re now convinced about allocating capital…

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  • Zerodha’s Nithin Kamath is an investor in this startup; here’s what it does

    Zerodha’s Nithin Kamath is an investor in this startup; here’s what it does

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    Chennai-based fintech AssetPlus’ co-founder Vishranth Suresh has recently posted on LinkedIn about meeting Zerodha co-founder Nikhil Kamath and what the company intends to do in future. 

    Vishranth Suresh, an IIT Madras graduate, has also said Kamath is an investor in AssetPlus, offers digital-first solutions to financial advisors and mutual fund distributors.

    “Thankful to have gotten the opportunity to meet one of the most respected entrepreneurs, Nithin Kamath, last week. He is also an investor in AssetPlus. Had a great discussion regarding the Mutual Fund industry and distribution ecosystem. It is abundantly clear that as the industry grows, there is a dearth of financial advisors/distributors,” wrote Suresh.

    The company claims that the mobile app is trusted by over 1,50,000 users, and is used by distributors to process over Rs 1,200 crore worth of investments. On its website, the company said, “We provide comprehensive technology and MFD business solutions to our distributors to increase their digital brand presence and grow their Mutual Fund business online.”

    “In this aspect, AssetPlus has built a strong platform to equip financial advisors and distributors to provide high quality service to their clientele and we are currently working with more than 3,000 MFDs. With AssetPlus adding more financial products and venturing deeper into Tier 2/3 markets to tie up with distributors, the next few years promise to be exciting! If you are in the same space and would like to collaborate, please feel free to reach out,” Suresh added.

    “Currently, we have a little over 1,500 financial advisors and mutual fund distributors (MFDs) across the country using AssetPlus platform. Our aim is to take this number to 5,000 by the end of this fiscal and reach 10,000 by September 2023,” Suresh told Hindu BusinessLine earlier this year.

    Zerodha has last year received in-principle approval to set up an asset management company (AMC) company. 

    In February 2020, the broking company had applied for the AMC licence.

    ALSO READ: ‘Stay in India because it will have the best opportunities in future,’ says Nithin Kamath to students

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  • Zerodha’s Nithin Kamath sees a silver lining for India in the ‘startup world’s excesses’

    Zerodha’s Nithin Kamath sees a silver lining for India in the ‘startup world’s excesses’

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    Zerodha CEO Nithin Kamath on Friday said on Twitter that due to the “startup world’s excesses”, for the first time in India many are aspiring to be entrepreneurs. “More people building for India, in India is the only way we can get to $5 trillion+,” he further said in reference to Prime Minister Narendra Modi’s exhortation to the countrymen to turn India into a $5-trillion economy by FY25.

    “The silver lining of the startup world’s excesses is that, for the first time in India, there are so many aspiring to be entrepreneurs. Almost like how people want IIT, IIM, Civil Services, etc. More people building for India, in India is the only way we can get to $5 trillion+,” tweeted Kamath. 

    He’s referring to the amount of money being pumped into the Indian startups by investors across the world, thus giving them unicorn status. India is currently home to over 100 unicorns. A unicorn company is a startup company that is valued at over $1 billion.

    “Building a business is extremely hard. Over the last three to four years, the startup boom has made it seem like starting a business is an easy thing to do. Doing business – making people pay for your products and services is really the hardest thing to do. People believe that building a business with a certain valuation is equal to building a business. Which isn’t true. A business is a business when it starts creating positive cash flow – that is what you make out of it is more than what you have put in.

    “Today entrepreneurs are almost looked at like heroes and everyone wants to be on the other side, it’s important to realise that the other side is really hard,” said Kamath recently in an interview with Moneycontrol.
     

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  • ‘Crazy and scary’: Here’s what Nithin Kamath has to say about the crypto world 

    ‘Crazy and scary’: Here’s what Nithin Kamath has to say about the crypto world 

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    Zerodha founder and CEO Nithin Kamath has hailed the Indian capital market infrastructure and regulations and said the entire system does not get enough credit for being among the best globally. In a LinkedIn post that has gone viral, Kamath talked about the crypto world and that brokers and exchanges can act as banks in most markets.

    He added, “In India, all securities are held by the customer at the depository. All unused funds are sent back monthly/quarterly and one client’s funds can’t be used to fund another. In most markets, brokers can hold customer securities and funds indefinitely and use them any way they want.”

    The Zerodha founder went ahead and commended the Securities and Exchange Board of India (SEBI) for their efforts aimed at protecting the interests of the retail investors by reducing risks and making markets safer. 

    Kamath’s comments come after a deal between crypto exchanges FTX and Binance collapsed. The deal was touted as an emergency rescue in the world of cryptocurrencies as investors pulled their money back from risky assets. 

    Binance said in a statement accessed by news agency Reuters, “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.”

    After this, FTX CEO Sam Bankman-Fried said in a message to employees, “I’m working, as quickly as I can, on the next steps here. I wish I could give you all more clarity than I can.” 

    Meanwhile, cryptocurrency market-cap saw a decline of 7.82 per cent to $835.16 billion. Key tokens such as Bitcoin and Ethereum also fell to $16,612.50 and $1,181.61 respectively. Market cap of Bitcoin and Ethereum stands at $319.67 billion and $145.09 billion at the time of writing this story, according to coinmarketcap.com.

    Also read: FTX CEO looking at all options as Binance deal collapses

    Also read: No IIM or Harvard: How Nithin Kamath built Zerodha without a management degree

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  • ‘Stop taking loans, start saving early’: Zerodha CEO Nithin Kamath’s advice to millennials, gen Z

    ‘Stop taking loans, start saving early’: Zerodha CEO Nithin Kamath’s advice to millennials, gen Z

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    Stock trading firm Zerodha’s co-founder and CEO Nithin Kamath has shared some do’s and don’t for millennials and generation Z, who according to him need to take retirement a little seriously.

    Kamath, who keeps sharing valuable tips for investors, on Saturday said what new generations don’t think about enough is that the retirement age is dropping fast due to technological progress and life expectancy going up due to medical progress.

    As per American think-tank Pew research, anyone born between 1981 and 1996 (ages 23 to 38 in 2019) is considered a millennial, and anyone born from 1997 onward is part of a new generation (Gen G). 

    Kamath said that the retirement crisis will probably be the biggest problem for most countries in the next 25 years. Earlier generations, he said, got lucky with long-term real estate and equity bull markets that helped them create a retirement corpus but that may not be the case for new generations.

    The stockbroker and investor said that in 20 years, retirement could be at 50 and life expectancy at 80. “How do you fund the 30 years?” he asked. 

    If climate change doesn’t kill us all, the retirement crisis will probably be the biggest problem for most countries 25 years from now, he said in a LinkedIn post. 

    “Earlier generations got lucky with long-term real estate & equity bull markets that helped create a retirement corpus. Unlikely in the future,” he added.

    So, he suggested four things that new generations need to do to avoid a post-retirement crisis. 

    Kamath’s first advice to the new generations is to stop getting triggered by everyone trying to lend and stop borrowing to buy things you don’t need or depreciate in value. Second, start saving early and diversify across FDs, government securities, and SIPs (Systematic Investment Plans) of Index funds, ETFs (Exchange-Traded Funds). He said stocks are probably still the best bet to beat inflation long term.

    Third, Kamath said one needs to have a comprehensive health insurance policy for oneself and everyone in the family. He said one health incident is enough to push most people into financial ruin or set them back many years financially. “Jobs don’t last forever, hence one policy outside of what is provided at work,” he added. 

    Fourth, if one has dependents, s/he should be covered. “Buy a term policy with adequate cover. In the worst case, this money in a bank FD should cover their financial needs,” Kamath wrote. In the last, he said the biggest fix for most people is they should stop taking loans. 

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  • Zerodha’s Kamath brothers among India’s top 10 individual philanthropists, donations jump 308%

    Zerodha’s Kamath brothers among India’s top 10 individual philanthropists, donations jump 308%

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    Zerodha co-founders (and brothers) Nithin Kamath and Nikhil Kamath — besides being among the richest entrepreneurs in the country — are among India’s top 10 philanthropists in personal capacity. Their donations jumped 308 per cent to reach Rs 100 crore in FY22, making them the ninth-largest individual givers in India, according to the EdelGive Hurun Philanthropy List 2022. 

    “Nithin Kamath and Nikhil Kamath of Zerodha with a 308 per cent year-on-year increase in philanthropic donations lead the list of individuals who have increased their contributions (in percentage terms) to social causes. The brothers have pledged a quarter of their wealth to philanthropy and have plans to give back Rs 750 crore over the next three years,” Hurun India stated in its report.

    Additionally, Nikhil Kamath, 36, also happens to be the youngest philanthropist in the list. The Kamath Brothers’ primary cause for donation is disaster relief; other causes they support include environment and sustainability. Overall donations towards ‘Environment and Sustainability’ increased by 46 per cent to Rs 193 crore in FY22, Hurun India stated.

    Both brothers are passionate about climate change and how it affects livelihoods. They have also committed $100 million towards the Rainmatter Foundation, which works at the grassroots level with individuals and organizations that are building solutions for climate change. 

    Other start-up entrepreneurs in the EdelGive Hurun Philanthropy List 2022 included Flipkart co-founder and former CEO Binny Bansal. His donations went up 174 per cent in FY22, and his primary cause was education. Overall, he ranked as India’s 25th biggest philanthropist. 

    Anas Rahman Junaid, MD and Chief Researcher, Hurun India, said, “The cohort of senior and young tech entrepreneurs holds the potential to play a crucial role in meeting the country’s social sector fund requirement. For instance, Nikhil and Nithin Kamath, and Binny Bansal increased their donations by more than 100 per cent compared to last year. Many such acts from founders of start-ups could kick the Indian philanthropy curve into a higher orbit.”

    “I am very stoked to see the rise in personal philanthropy in India. Cumulative personal donations grew by 50 per cent to Rs 3,097 crore, and this constitutes 55 percent of donations in the list,” he added. 

    Also Read: Shiv Nadar tops the EdelGive Hurun India Philanthropy List, donated Rs 3 crore per day

    Also Read: Byju Raveendran, Nithin Kamath, Kunal Shah among 100 start-up founders in IIFL-Hurun Rich List 2022

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  • ‘You’re Mr. Kamath, right?’: When a ‘naive intern’ bumped into Zerodha’s Nithin Kamath

    ‘You’re Mr. Kamath, right?’: When a ‘naive intern’ bumped into Zerodha’s Nithin Kamath

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    We all have idols and there are those special occasions when we get lucky enough to meet them in person! One such moment was shared by Dhruv Shah, Vice President of Marketing, Finshots and Ditto Insurance, when he met Nithin Kamath, Founder and Chief Executive Officer (CEO) of Zerodha, for the first time in Bangalore.  

    Shah, who started off as an intern in the Zerodha office, shared his story on LinkedIn about his first meeting with Kamath. “As a naive intern, I happened to bump into him, and asked him- “Wait, you’re Mr. Kamath right?” 

    He added: “Whenever I would normally introduce myself to people, they’d usually dismiss me as a part-time intern. And yet, while speaking to me then, he (Kamath) held me with the same dignity as a person of high stature. I was stunned.” 

    Also read: Why your Zerodha balance might reduce this Saturday – Nithin Kamath explains

    Kamath is a well-known name among the new-age entrepreneurs in India. He started of his investment career at just 17 by trading in penny stocks. He founded Zerodha, a large Indian broking house, in 2010, and was recently featured in the IIFL Wealth Hurun India Rich List.  

    Also read: Byju Raveendran, Nithin Kamath, Kunal Shah among 100 start-up founders in IIFL-Hurun Rich List 2022

    Shah further wrote in his post that not all great leaders and businessmen act pricey, some are great leaders who share their wisdom and treat everyone equally with respect. “Great leaders value people equally and treat people equitably. And this person is an example of just that. Truly humbled to have bumped into him again,” Shah wrote.  

    Online brokerage with a twist 

    Zerodha is a financial service company that is registered with the Securities and Exchange Board of India (SEBI), and a member of NSE, BSE, MCX, MCX-SX, NCDEX, and MCX, built to provide brokerage facilities to the stock market traders.

    Also read: Why KV Kamath thinks ‘disruptor’ Zerodha is a good business model

    Headquartered in Bengaluru, Zerodha’s USP is the idea of discount broking, which means that it charges a reduced commission or low brokerage on the transactions to ideally attract investors to use this platform. This has made Zerodha quite famous among the new-age traders. As it was the first discount broker in the country, Zerodha built upon its innovative ideas and unique strategies and successfully made a client base of more than one million. 

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