With the proposed system, digital wallet providers and participants (merchants and users) will be able to settle transactions across all systems in a unified way.
Amidst the widespread furore and the general perception of RBI’s data localisation mandate being a spoke in the wheel for digital payment companies, the latter believes RBI’s diktat is a step in the right direction.
Mrutyunjay Mahapatra DMD and CDO at SBI talks on new age banking and vigilant selection of technologies in the digital world. (The interview was conducted prior to his appointment as CEO of Syndicate Bank).
As per the RBI licensing terms, the promoters' stake of the bank should have been brought under 40 percent within the first three years of the commencement of its operations. But as on 30th June 2018, the promoter group holds 82.28 percent stake.
KPMG in India, in collaboration with Nasscom, released the report 'Fintech in India – Powering a digital economy' at the Nasscom India Fintech Day.
In order to make things better for the state-run banks, the government has reshuffled top banking officials. Mrutyunjay Mahapatra, former Dy. MD and CDO of State Bank of India, becomes CEO of Syndicate Bank.
The acquisition is a part of Obopay’s long term strategy to aggressively strengthen and enhance its data analytics capabilities and mobile app expertise.
The government of India on Wednesday appointed Mrutyunjay Mahapatra, the former Dy. MD and CDO of State Bank of India, as the new CEO of Syndicate Bank.
Although shareholders remain pessimistic, experts expect improved operational efficiency, credit growth and governance for the three PSU banks in the long term.