Payment banks which are the buzz words today has yet to take off though 11 licences for the same were issued by RBI last year.
Payment banks which are the buzz words today has yet to take off though 11 licences for the same were issued by RBI last year.
On Friday, Sun Pharma’s Dilip Shanghvi, who had the licence for setting up a payment bank in partnership with IDFC and Telenor, dropped his plans to set up the bank. A couple of months back, the Cholamandalam group had pulled out of payments banks race.
Commenting on why payment banks are slow in taking off, Mr Deven Choksey, the managing director of D.R. Choksey Investment Managers, said these banks would make sense “largely for companies that have retail businesses and customers with small ticket payments like small investors in mutual funds. Adity Birla has the Birla Sunlife distributors and Idea’s subscribers.”
Deepak Chandnani, the CEO of Worldline South Asia & Middle East sees plenty of opportunities for payment banks as there is a huge unbanked population.
