Kudos to your article. This action smells use of Government and Regulator to right size an emerging business. How do you expect a payment banks to open crores of accounts (which India ) needs and do traditional KYC. That is preposterous requirement. Such a startup will never become profitable as it will drown itself in the cost of doing non sense KYC. This action is analogous to India’s Jack Ma moment. The big guys don’t want to share space with a new guy. They are doing everything in their power to right size the new guy. But remember. You can have regulation and curtail someone. But you cannot take away power of great software. Software will win! Reply
RBI is doing as much as possible to finish Fintech. But it can’t stop SBI from lending Adani Billions. Kamjor k liye sare niyam hote h. Reply
Kudos to your article. This action smells use of Government and Regulator to right size an emerging business.
How do you expect a payment banks to open crores of accounts (which India ) needs and do traditional KYC.
That is preposterous requirement. Such a startup will never become profitable as it will drown itself in the cost of doing non sense KYC.
This action is analogous to India’s Jack Ma moment.
The big guys don’t want to share space with a new guy. They are doing everything in their power to right size the new guy.
But remember. You can have regulation and curtail someone. But you cannot take away power of great software. Software will win!
RBI is doing as much as possible to finish Fintech. But it can’t stop SBI from lending Adani Billions. Kamjor k liye sare niyam hote h.