Nithin Kamath, co-founder and CEO of Zerodha, has raised concerns over the permissions sought by several mobile banking applications, saying he does not use net banking apps because many of them request access to personal data that he considers unnecessary.
In a post on the social media platform X (Twitter), Kamath said many banking apps ask for permissions such as access to SMS messages, phone data and contact lists. He described these requirements as “invasive” and questioned why such access is needed for basic banking services.
Kamath said the demand for such permissions does not make sense and may pose privacy risks for users. According to him, financial apps should ideally follow global cybersecurity practices, where applications only request the minimum permissions required to function.
Because of these concerns, Kamath said he prefers not to install or use net banking apps on his smartphone. His comments highlight the growing debate around data privacy and how financial technology platforms handle sensitive user information.
He also pointed out that digital platforms should focus on protecting user privacy while still ensuring security. Kamath noted that unnecessary permissions could make users uncomfortable and reduce trust in financial apps.
Referring to his own company’s approach, Kamath said Zerodha’s trading platforms are designed to function without requesting unnecessary permissions from users’ devices. He said this approach is intended to ensure that user data remains protected while still offering secure services.
His remarks triggered discussions online, with many social media users sharing similar concerns about the level of access requested by banking and financial apps. Some users agreed that certain permissions appear excessive for basic transactions and account management.
At the same time, others noted that banks may request access to features like SMS to enable security measures such as transaction alerts, device verification or fraud detection.
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