At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
The Paytm Payments Bank will be headquartered in Noida and kick off its services from east and north to begin with
Wipro will be implementing the core banking solution for Paytm.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Analysts on Wednesday welcomed the Reserve Bank's decision to grant bank licences to Bandhan and IDFC, but expressed dismay that only two of the over two dozen aspirants made the cut.
Bankers have hailed the Prime Minister's call to end "financial untouchability" and opened millions of accounts on the inaugural day itself.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
The government is considering a proposal to privatise some state-owned banks in phases.
Your nearest grocery shop might soon become a one-stop shop for depositing and withdrawing money.
A Europe-like cyber security defence alliance is the need of the hour, say banking technology experts.
Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
Days after the PM announced a financial inclusion package, a look at how banks and insurance firms are going about it and what lies ahead.
What explains Vijay Shekhar Sharma's optimism when other players have started to tread cautiously is Paytm's huge customer base: It has 120 million users and counting, says Nivedita Mookerji.
The year 2014-15 could well go as one of long-pending financial sector reforms, expected to have a lasting impact.
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