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Exclusive: It’s A Two-Horse Race Among India’s Payments Banks
Two entities held 90 percent of the deposits raised by the seven licensed payments banks.
15 May 2019, 07:00 AM IST
India’s payments banks, intended to take small deposits and reduce financial exclusion in the country, saw a pick-up in business in 2018, shows RBI data. However, more than 90 percent of the deposits were held by just two of the seven payments banks currently operational.Payments banks had mobilised around Rs 780 crore in deposits, spread across savings and current accounts, as of December 2018, shows RBI data accessed by BloombergQu...
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