Zerodha Co-founder Nithin Kamath said that banks making it hard for customers to close an account comes under a "dark pattern".
Nithin noted that there should be regulation on this.
He further said that SEBI mandates all stock brokers to provide a facility to close accounts online.
A "dark pattern" is a term used to describe user interfaces that are designed to manipulate users into taking actions that may not be in their best interest but benefit the business or organization behind the website or app.
These manipulative designs can trick users into spending more money than they intended, giving away more personal data or making choices they wouldn't have made otherwise.