The central bank hasn’t completely abandoned the plan to create an alternative to India’s flagship payment processor. But the competing consortiums, including the likes of Reliance, Tata, Google and Meta, still have a long way to go.
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The Yes Bank CEO ushers in a spate of changes in the retail banking business to stem its loss-making streak.
The Sandeep Bakhshi-helmed private lender has moved swiftly to grab a bigger slice of the corporate loan action, posing a threat to what was once HDFC Bank’s bastion.
The battle between four of India’s major fintechs and the payments orchestration leader is being fought on the issues of interoperability and fair competition. Ultimately, though, commercial factors will trump all else.