There was an article in the Indian Express which mentioned that 6000 sub-brokers shut down shop this year.
Now there is an article in ET about how well known broker Shankar Sharma is bidding goodbye to Dalal Street.
Brokers in India are fast becoming an endangered species…thanks to lackluster volumes,abolition of entry loads,increasing compliance ,rising employee costs and possibly the biggest reason of all-customer distrust.
Its fairly clear we are treading the US path here…small mom and pop shops will close down and the only survivors will be the discount brokerages and the big players.
