Shreesh Wattamwar

[Kundan Prajapati @ScholarTrading]

What the hell is happening to the Indian stock market?

Dear @SEBI_India & @NSEIndia @BSEIndia

How many times do you expect traders to rebuild their entire business?

> December 2020 – 50% leverage removed
> March 2021 – 75% leverage removed
>September 2021 – 100% leverage removed

We adapted.

Yes, leverage is a double-edged sword. But thousands of genuine traders with smaller capital were affected. Still, we adapted.

> September 2023 – Bank Nifty expiry was shifted from Thursday to Wednesday, while BSE launched Sensex weekly expiry on Friday. Suddenly, we had expiries almost every trading day.

Many traders, especially algo and 0-DTE traders, redesigned their entire systems.

We adapted.

> November 2024 – Weekly expiries of FinNifty, Bank Nifty and other indices were removed. Only Nifty and Sensex weekly expiries remained.

Again, thousands of traders had to change their strategies.

We adapted.

> February 2025 – Expiry-day margin benefit was removed.

STBT traders were hit badly.

We adapted.

> 1st September 2025 – Nifty expiry shifted from Thursday to Tuesday.

Again...

We adapted.

> Jane Street reportedly made billions of dollars from Indian markets over the years. Later, regulatory action was taken, and subsequently trading restrictions were lifted after payment of regulatory dues/settlement.

How exactly did all of this benefit Indian retailers?

Meanwhile...

- Option STT has increased massively over the last few years.
- Bid-ask spreads have widened.
- Slippage has increased.
- Global volatility has increased.
- Transaction costs keep rising.

We adapted to everything.

And now...

Closing Auction Session (CAS).

Seriously?

Every few months there's another structural change.

Every few months traders are forced to rebuild their systems.

Every few months liquidity takes another hit.

You say these changes are for retail investor protection.

Then please show us the data.

Can you show even one report proving that retail trading losses have actually reduced because of all these interventions?

If not, then what exactly are these constant changes achieving?

Instead of making markets more efficient, you're making trading more expensive, more complicated, and pushing serious traders towards crypto and international markets.

As a full-time trader, my inner soul genuinely cries today seeing the direction our markets are heading.

We survived leverage removal.

We survived daily expiries.

We survived removal of daily expiries.

We survived expiry changes.

We survived removal of expiry margin benefits.

We survived higher STT.

We survived wider spreads and slippage.

Now we are expected to survive CAS as well?

Enough is enough.

I request SEBI and the exchanges to reconsider this rule.

Before implementing such major structural changes, consult the trading community. There should be proper communication, public discussion, and representation from active traders.

I also request every trader to raise their voice through the proper channels. If you genuinely believe these changes are hurting market participants, please send your feedback or complaint to SEBI through its official grievance mechanism. And if anyone from the industry has a direct channel to the exchanges or regulators, please help convey the concerns of the trading community.

Please Retweet this so our voice reaches the right people.

Enough of silent adaptation. It's time the trading community is heard.

@AnilSinghvi_ @_anujsinghal @SarangSood @PRAFULKULKARN18 @adigitalblogger @iarjuntandon @JayneshKasliwal @sunilgurjar01 @piyushchaudhry @SantoshPasi @RakeshPujara1 @TanmayKurtkoti @justnottamomma @AshishGupta325

[Siddarth Pai @siddarthpaim]

India has nearly 50 lakh trucks on the road. The next big national mission should be to electrify trucks and buses.
A serious push for electric buses in rural and urban India could transform public transport at far lower cost than building metro systems in cities that often lack the population density, last-mile connectivity, or civic infrastructure to justify metro-scale capex. @narendramodi @PMOIndia @nsitharaman @NITIAayog

[Abhishek B R @abhitwt]

Every company’s AI workflow rn be like 😭💀

[Rajiv @Rajiv1841]

Good to see BCCI is unapologetically celebrating our culture & religion at world's biggest cricket stage♥️🙏🏻

[𝐒𝐫𝐢𝐤𝐚𝐧𝐭𝐡🚩 @Srikanth_OG]

What a frame 🔱❤️

[Malay Krishna @Malay4Product]

This is a sensible move and 60+ countries have already done it.

The Adani conspiracy angle is silly.

Let me explain the real pros and cons.

First, why RBI is even considering this. India spent ₹6,372 crore printing notes in FY25, up from ₹5,101 crore the year before.

23.8 billion soiled notes were pulled out of circulation in FY25, up 12% from the previous year.

Despite UPI, cash demand hit a record ₹42.86 lakh crore. Low-value notes (₹10, ₹20) change hands constantly in buses, markets, and tea stalls, so they wear out fast and need constant reprinting.

Polymer is being looked at to break this cycle.

First the pros;

Durability.

Polymer notes last 2.5 to 4 times longer than paper. A note that survives 1 year as paper survives 3-4 years as polymer. So fewer reprints, lower long-term cost.

Lower replacement cost over time. Higher upfront printing cost, but far fewer replacements. Net saving over the note’s life.

Counterfeit resistance.

Transparent windows, micro-optic holograms, and specialised inks are much harder to fake than paper security features. Countries that switched reported lower fake-note circulation.

Hygiene.

Polymer resists moisture, dirt, and grime. Cleaner notes in a country where cash passes through countless hands.

Climate resilience in wet conditions.

Survives monsoon, humidity, accidental washing. A paper note through a wash is destroyed. Polymer survives.

But there are a few cons too;

Heat performance.

This is the big one for India. Polymer notes can shrink, curl, or stick together in extreme heat. India regularly hits 45-48 degrees in summer. Australia and Canada don’t have this problem at scale. India does.

This was the main reason the 2014-15 pilot stalled.

Higher upfront cost.

Polymer substrate costs more per note to produce. The savings only materialise over years through fewer reprints. Short-term budget hit.

Folding and creasing.

Polymer doesn’t crease like paper but can develop permanent fold marks and tends to spring back, which annoys people used to folding cash into wallets.

Counting friction.

Polymer notes are slippery. Manual counting by hand, the way most Indian shopkeepers and bank tellers count, becomes harder. They stick together or slide apart.

Recycling and disposal.

End-of-life polymer notes need specialised recycling. Paper notes are easier to dispose of. Environmental questions were raised in past evaluations too.

Machine recalibration.

ATMs, vending machines, counting machines, and note sorters across the country need recalibration or replacement to handle the different thickness and feel. This will be a significant transition cost.

Public adaptation.

145 crore people who’ve handled paper their whole lives need to adjust. Older and rural populations may initially distrust or struggle with the new feel.

Australia is the global pioneer and they went fully polymer starting 1988. Canada, UK, Singapore, New Zealand, Vietnam, Romania, Mauritius followed.
Most started with a pilot on one or two denominations before scaling.

But none of them have India’s combination of extreme heat + cash volume + manual counting culture, which is why India needs its own pilot rather than copying anyone.

RBI is doing the right thing by starting with a pilot on ₹10 and ₹20 notes. These are the highest-circulation, fastest-wearing, lowest-risk denominations.

They should test heat performance across Rajasthan, Vidarbha, and the South in peak summer. Test counting in real markets. Test ATM and machine compatibility. Then decide on scaling.

Polymer is a good idea with one real India-specific risk, heat.

So we need to get the substrate right for 48-degree summers and it’s a clear win on durability, cost, hygiene, and counterfeit resistance.

This is just a routine currency modernisation that 60+ countries have already done.

Yes, we should be asking questions if the polymer can handle Indian summers.

Everything else is solved engineering.

[Chris Bakke @ChrisJBakke]

For the last 6 years I’ve been buying well-run small businesses for 5x earnings.

In the first 30 days, I take the websites offline, move the companies to sad office parks with drop ceilings, install fax machines at the front desk, and bringing in 75 year old actors to pose as the CEO.

I then sell the companies to people with MBAs for 10x revenue so that they can feel useful “turning the company around”

[arfan @Im__Arfan]

The situation is so bad that even them worrying about constant team leaks also got leaked 😭

[Devanampiya Piyadasi @Jabalisamhita]

The polytheists have won. The army of Islam lost. The temple stands strong, protected by the might of a billion Hindus.

[Anurag @Jhunjhunuwala_]

In 42 days, Modi will become India’s longest-serving democratically elected PM with an unbroken tenure.

[Sridhar Vembu @svembu]

Will Sabeer Bhatia advise the Jews to "appreciate" the Holocaust chapter of their history?

As a matter of fact, only because the Jews remember the history and said "Never again", have they been able to build Israel and all its technological prowess and they have also revived the Hebrew language.

Bharat will do all of it - we will rebuild our great civilization, we will remember our history (Never again!) and honor the memory of our ancestors, and we will also revive our great languages.

[Akshit Singh 🇮🇳 @IndianSinghh]

Pakistan is begging India at various International forum to restore Indus water treaty

And

Bangladeshis and Rohingyas are fleeing from West Bengal towards Bangladesh fearing Deportation

Yahi toh hai acche din

🔥🔥🔥

[Jahazi @Oye_Jahazi]

Imagine being the Prime Minister of India’s personal assistant, packing his luggage for a multi-nation trip, and hearing him say, “Ek packet Melody rakh lena teri bhabhi ke liye.” 😭

[Giorgia Meloni @GiorgiaMeloni]

Welcome to Rome, my friend! 🇮🇹🇮🇳

[Gita Gopinath @GitaGopinath]

My op-ed in @timesofindia on the rupee:
https://t.co/bvVoq7bGZK
There is nothing automatic about foreign exchange running out. Only the RBI can deplete reserves. The policy question is whether to deplete reserves to support the rupee. I argue that there are ample grounds to let the rupee adjust to arrive at lower imports, higher exports, and to encourage capital inflows. Intervention in FX markets can wait another day.

[Preeti (ಪ್ರೀತಿ) @irma_shvesk]

This is not confusion; it is strategy.

What we are witnessing right now across Indian subcontinent is a deliberate and calculated effort to separate culture from Hinduism.

The narrative that culture practices can exist independently of Hinduism even when those practices are historically, culturally and philosophically rooted to the land, will be carefully propagated with an intellectual bandwidth and a supporting ecosystem.

In this process, rituals are not being discarded but replicated.The projections are preserved but their spiritual anchors are being replaced, our native deities are being substituted with the imported ones.

Over time, this will create a powerful shift tacitly: continuing in appearance but fractured in purpose.

We are already seeing that happen in Pakistan and Bangladesh, a distinctly anti Hindu society who now embrace the culture for clout and attempt to project it as independent of Hinduism. .

Fragmenting our civilizational fabric by disconnecting religion from culture reinforcing these reinterpretations normalising these ideas until they are no longer questioned but internalized as the right way of thinking and being is what's happening under covers.

We are already seeing parallel trends within India where on one end cultural practices are reframed as non-religious and on the other native cultures are stamped as regressive, something worthy to be destroyed..

In a nutshell, the politics of abrahamics replicating hindu traditions is not for mere assimilation.
It is a form of curation where aspects of native culture are selectively retained, stripped of their roots, and repackaged detached from their foundations

Once detached these practices become easier to redefine, control, or even erase.

After centuries of futile attempts at direct confrontation to dismantle Hindu traditions, a more intricate method clothed and assimilation seems to have emerged.

A high surveillance state where people follow the rules without questioning requires a populace without a cultural spine.

Dilution is the first step.
Just saying ....

[Venba @paapabutterfly]

West is gonna discover sambar and name it "Tamarind-Infused lentil Consommé" just like the Scandinavian scarf...

[EngiNerd. @mainbhiengineer]

People will go to America for 10 days, then come back and suddenly

> Petrol pump becomes gas station
> Rupees become bucks
> Football becomes soccer
> "You know in US.." gets added automatically in every sentence

Their whole personality change faster than time zone 🥲

[Sahil @sahill_og]

when Claude already wrote like 3k lines of code and I notice an error on my prompt

[Catty @CatWomaniya]

FR 😭