With over 35 years of experience in the banking and financial services industry, Monga brings significant strategic insight and knowledge to the bank’s board.
To buy Bitcoin using Net Banking, Unocoin users will have to head onto "Buy Bitcoin" tab and choose ‘Netbanking’ as the mode of payment.
MD of National Payments Corporation of India said that after January out of the 2.3 lakh ATMs in the country less than 2 lakh have been operational.
These charges, which are mostly agreeable to the bigger banks, were decided after almost a month-long debate.
In the battle for fees, banks should realise that maximising profits is a short-term game and a fair game could sow the seeds of long-term profits.
Bankers who spoke to ET believe the defaults are higher among drivers on Ola as they accept more payment by cash compared with those driving for Uber.
Withdrawals at pre-demonetisation levels as customers revert to cash payments; ATM operators say only 50% of their currency demand being met.
"Categorisation on the basis of transaction amount is simpler than categorisation on the basis of merchant category. In this process, nobody will do a proper cost study."
Payments Banks are planning to utilise the large nation-wide UID (Aadhaar) coverage, to help rural masses with Aadhaar enabled micro ATMs.
Keeping the credit score of MSMEs will help banks keep defaults at a minimum.
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