Millennium Post

Not perturbed by withdrawal of Payments Bank licences: Rajan

Three entities -- Tech Mahindra, Cholamandalam Investment and Finance Company and a consortium of Dilip Shanghvi, IDFC Bank and Telenor Financial Services -- have decided to back out of the Payments Bank licencing. “We are not overly perturbed that some people decided after analysis that they would not go forward. 

In fact it suggests that licencing has been adequately liberal and that we have a variety of players coming in,” he said at a press conference after announcing the second bi-monthly monetary policy for the current fiscal. Last August, RBI gave in-principle approval to 11 applicants including Department of Posts, Aditya Birla Nuvo, Airtel M Commerce Services, Fino PayTech, National Securities Depository, Reliance Industries, Tech Mahindra and Vodafone m-pesa for setting up payments banks.
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