Do banking apps really need all these permissions?
I don’t use net banking apps on my phone because the mandatory permissions they ask for make no sense.
Why does a banking app need access to my SMS, phone, contacts, etc., in the name of security, when not seeking invasive device permissions is, in fact, the global benchmark for cybersecurity. This is called the Principle of Least Privilege (PoLP).
“Don’t do unto others what you don’t want done unto you” has been at the heart of the Zerodha philosophy.
This is exactly why we’ve built Zerodha the way we have. Kite asks for ZERO permissions on mobile, for instance, and this is one of the big reasons why millions of people trust us. What has enabled us is SEBI’s mandatory strong two-factor authentication framework strike the right balance between security and privacy.