As the subject line states, if all the stocks available in NSE are already listed in BSE, with another 4000+ additional companies, why India needs two exchanges?
If all banks accept deposits and lend loans, why do we need so many banks? 
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If Amazon already sells online, why do you need Flipkart?
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It’s obviously done to make sure that the large amount of transactions occur smoothly and effectively, the more the merrier but it is very complex and takes lots of efforts to keep opening one stock exchange after another which is why there are only two stock exchanges currently.
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various moons back, there was Bangalore and Calcutta stock exchange as well. They were called regional stock exchange. I think these closed.
There were 21 of them.
One was at my place Kanpur also named as UP stock exchange. Now that stock exchange building houses the offices of every single full service broker that I’ve heard of.
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