The RBI had initially received 41 applications to start a payment bank in February 2015 and issued 11 final in-principle licences in August.
The strategy is to ensure that companies are prepared to innovate and that the process goes beyond just having the initial ideas.
One of the applications, called Radius, is an Uber like program built for a healthcare company that provides services at home.
The platform is targeted at large retailers and food manufacturers. And more such platforms are being created.
General Electric is betting big on digital technologies and the internet-of-things as it begins its transformation to a digital industrial company.
Google-Apps-For-Work, as its enterprise products are called, are already being used by companies such as Hero Motors, Welspun and JSW Steel.
In an interaction, William Ruh, who heads the industrial giant's digital business told ET that he aims to earn $6 billion in revenues from IoT
What it is looking for are solutions for some of the toughest problems faced by Tata companies across products, business models and internal processes.
“This year our India business crossed the $1 bn mark. The private sector is about 3 or 4 times the government business,” Chandrasekaran said.
Subramanian was previously Senior Vice President of Digital Business Solution for Platforms at Persistent Systems.
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