The research study delves to understand the investment biases exhibited by retail investors in the dynamic Indian capital market, with a specific focus on two influential generational cohorts, Generation Y (Millennials) and Generation Z. The primary objective of this study is to investigate and analyse the various investment biases that affect the decision-making processes of Gen Y (Millennials) and Gen Z retail investors. By employing combine descriptive research design, like collecting data from 120 respondents through structural questionnaires to identify factors contributing to these biases, and analysed their effects on investment decisions. The findings of this research are expected to contribute to the enhancement of investor education programs and develop tailored strategies to enhance financial literacy, promote rational decision-making, and mitigate potential risks associated with biased investment behaviours. Overall, this study highlights the shed light on the implications of investment biases on the financial well-being of Gen Y and Gen Z investors, offering valuable recommendations for financial institutions, regulators, and educators to empower these cohorts in navigating the complex Indian capital market landscape.