2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Telenor
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IDFC
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HDFC
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Both A & B
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Detailed explanation-1: -Last week, a consortium of Sun Pharmaceutical Industries Ltd promoter Dilip Shanghvi, IDFC Bank Ltd and Telenor Financial Services abandoned its plan to set up a payments bank.
Detailed explanation-2: -Worldline, a global company in payments services, announced the launch of its Buland Bharat digital payments suite, which is designed specially keeping in mind the needs and wants of small and medium businesses (SMBs) in India.
Detailed explanation-3: -“The payments bank model did not take off the way it was intended because they were subject to regulations on risk and securities much like other banks, but no revenue model exists for them.
Detailed explanation-4: -Any bank’s failure is on account of insufficient net interest income margin and not on account of lack of ‘other income’. When these payments banks are restricted from giving loans and advances, one cannot expect them to thrive merely on commission earned on making remittances.