View: India's banking revolution has started without the banks
As Uday Kotak, chairman of Kotak Mahindra Bank, said recently in a speech, “Bankers were short-sighted. Their standard response was, ‘Oh, there’s no money in payments.’” But there is now. About 20% of online payments over the shared public network are being collected by merchants.
Reforms keep middle class in mind, says FM SitharamanAddressing beneficiaries of the deposit insurance scheme, Sitharaman said there had been a lot of distress calls since 2019 from depositors whose money was stuck because there was a regulatory control on banks.
https://ift.tt/3oMTTlc
Post a Comment