Payments Banks

While a similar request was made a year ago, people in the know say this time around the regulator may be more amenable to trying out small-ticket lending through payments banks, as most posted net profits in FY24. Payments banks also seek a wider berth to deploy their liabilities.

Interview: Year 2023 will be big for payments banks, expect growth-supportive measures from RBI, says Fino Payments Bank CFO

Creating a level playing field with other financial institutions a must, hence expecting relaxation in end-of-the-day deposit and other services, Ketan Merchant, CFO, said

New norms for private banks: Key recommendations of RBI panel on ownership and governance

Among other major recommendations, the RBI's internal working group has said large industrial houses could be allowed as promoters of private banks. Here are the other key recommendations

New small finance bank licenses on the way

Payment banks will be allowed to apply

Fintech companies can help financial inclusion: RBI Governor Shaktikanta Das

Das will also be meeting the heads of payments bank later this week to understand their issues and concerns.

Opinion | Differentiation in banking models is a must to drive competition

Several studies have found that the Indian banking sector, while having a large number of players, has monopolistic competition

Kotak Mahindra Bank says business not impacted by payments banks

However, there is a need for universal banks which offer the entire gamut of services to be more agile to take on the new entrants, the bank's head of retail liabilities, investment and payment products, Ambuj Chandna said.

Banking sector wrap: Jaitley promises help to banks; P2P lenders to be NBFCs

Customers would be happy to know that banks are sprucing up their festive offers to give discounts on loans and waive off charges to avail loans in the Diwali season.

Here’s how payments banks will make money without lending

Unconventional revenue streams include data monetisation, cross-selling of financial products, forming credit access platforms and creating alternate merchant payment models

Aditya Birla Group gets RBI licence to start payments bank

The Aditya Birla Group today said it has received licence from the Reserve Bank of India to start payments bank.

Payments banks struggle to take off; Cos lack solid biz plans

More than 12 months after the Reserve Bank of India (RBI) issued in-principle approvals to 11 applicants to launch payments banks, only four have clear business models to launch the banks by February 2017, Mint reported on Wednesday.

RBI releases governing norms for small and payment banks

The prudential regulatory framework for payments banks (PBs) will largely be drawn from the Basel standards. However, given the financial inclusion focus of these banks, it will be suitably calibrated, the RBI press release said.

Credit bureaus want RBI to make payments banks its members

Ahead of the commercial launch of payments banks, credit information companies (CICs) have urged RBI to ensure these newbies in the banking space become their members and share data on the transactions.

Envision is high on consumer discretionary, small fin banks

Nilesh Shah, MD & CEO of Envision Capital is bullish on IDFC and Bandhan and expects more and more such institutions to come up in future owing to a breakthrough technology.

'Need to make payments bank system fraud free'

Paytm Payments Bank CEO Shinjini Kumar also said that they are facing the challenge of KYC norms as mobile numbers of the customers cannot be their IDs.

Time to think of policy on dealing with bank failures: Kotak

As the banking sector expands with entry of new players in different avatars, veteran banker Uday Kotak feels policymakers must think about the ways to deal with a situation when a bank goes belly-up.

Opening a bank is easier than a restaurant: Pratip Chaudhuri

The Reserve Bank of India has sought views on its draft guidelines for 'on tap' licensing of universal banks in the private sector. The former State Bank of India Chairman Pratip Chaudhuri also said it is easier to start a bank but difficult to run it.

Payments banks do not have a viable business model: SBI chief

"Neither the payments banks nor small finance banks seem to have as yet devised a business model that can be said as viable," said Bhattacharya, whose bank has tied up with Reliance Industries for a payments bank venture.

Kotak Mahindra to buy 19.9% in Airtel M Commerce for Rs 98-cr

On indicative time period, Kotak Mahindra said the acquisition will be completed "within ten days from signing of share subscription and shareholders agreement".

Small fin banks can join payment sys after getting licence

The central bank, in August and September, announced the names of 21 entities that were granted in-principle approval for setting up payments banks and SFBs.

Paytm plans to launch payments bank by March

Paytm founder and CEO Vijay Shekhar Sharma was one of the two individuals, besides nine other entities including Reliance, Vodafone, Airtel, Birla and TechMahindra, among others, which have been granted in-principle nod to set up payments banks by Reserve Bank last month.

MFIs-payments banks partnership to benefit both: SKS Micro

PH Ravikumar, Non-Executive Chairman, SKS Microfinance says, FY16 could see the industry growing by 35-50 percent but post that in FY17, there would be some slowdown.

Revolutionising the banking sector

While several experts have said there are benefits galore and that a revolution in banking is on the way, major incumbents are not as sanguine.

Union Bank keen to join payments banks bandwagon

Last week, the Reserve Bank had given permission to 11 applicants, including Reliance Industries, Department of Posts, Aditya Birla Nuvo, Sun Pharma's Dilip Shanghvi, Airtel, Tech Mahindra and Vodafone, to set up payments banks.

'Whatsapp' like movement in Indian finance sector: Nilekani

Taking smartphone to half a billion people was also a revolutionary movement in this regard. The Reserve Bank on Wednesday granted 'in-principle' approval to 11 entities, including Reliance Industries, Aditya Birla Nuvo, Vodafone and Airtel, to set up payments banks and proposed such licences 'on tap' in future.