Zerodha's Nithin Kamath on how a boring, invisible Sebi step brought windfall gains for retail investors

Sebi’s Unified Distilled File Formats (UDiFF) project standardized data exchange across exchanges, depositories, and other market entities.

The move reduced Zerodha’s codebase by over 60%, cutting operational complexity and risks.

Efficiency gains included slashing nightly data import time from 40 minutes to 30 seconds.

Nithin Kamath stressed that such backend upgrades benefit retail investors more than flashy front-end features.