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Sebi’s circular throws doubt on zero brokerage and reshapes costs for retail investors
Economy
Published on 24 April 2026
A new Sebi clarification could change what retail pays
A Sebi circular has put the future of zero-brokerage models in limbo, raising concerns about what retail investors will ultimately pay to trade. The uncertainty stems from regulatory clarifications that may tighten how zero-brokerage is structured, potentially shifting costs beyond commissions and affecting trading behavior for small investors.
- Sebi circular creates uncertainty around zero brokerage for retail
- Costs may move beyond brokerage charges under new interpretation
- Retail investors could face higher or different trading expenses
- Brokerage models may need redesign to comply
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times