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.
MFIs have been able to adapt to the competitive environment, have embraced different business models and have adopted technology to make them efficient and profitable. The transition to a bank would mean leveraging this knowledge to overcome the barriers to financial inclusion.