What’s protecting Indian stock market from severe crashes? Zerodha CEO Nithin Kamath answers

“In India if a customer does not use his money, we have to send the money back to the customer’s bank account. In the US, most of the brokers open a margin account by default which means that when you buy the stock, it does not sit in your demat account like in India. It sits in the broker’s name. The broker can now even leverage the stocks that you have sitting with them. When seen from India, the US seems like a wild west.”