The Bengaluru-based brokerage wants to hold customer funds to build a faster payment system, but the central bank is wary of reopening what it sees as a failed experiment.
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The decade-old company is reportedly planning to venture into food delivery and fintech. Its no-commission model might just come in handy for its expansion plans.
SBI is in discussions with its French partner on the contours of a near Rs 20,000-crore listing of the mutual fund house. But challenges in the form of a unique shareholder agreement and the recent poor performance of the AMC could derail plans.
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.