Involvement of big multi-national companies raises fears of abuse of user data and India's digital payment networks should continue to operate on a non-profit basis, the All India State Bank of India (SBI) Staff Federation and the UNI Global Union, a vocal critic of tech giants, wrote in the letter to RBI.
Union Bank MD Rajkiran Rai shares his business outlook for FY22"Collection efficiency definitely went down by 3-4% in the month of May as compared to March. But we hope that most of that will be covered in June. So we do not foresee much damage."
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