![]() ![]() ![]() Indian fintechs received about $7.6 billion of venture capital funding this year through early November, nearly fourfold that of China, according to research firm Tracxn. India is emerging as one of the most attractive digital services destinations in the world for investors and companies after China’s curbs on its technology sector. “Their standard response was ‘oh, there is no money in payments.’” “Bankers were short-sighted over the last three years,” he said. ![]() (Bloomberg) - Bankers in India risk losing out large parts of their traditional business to global tech giants as Google Pay and Walmart-backed Phonepe boost control of the nation’s retail digital payments network, according to Uday Kotak.īanks will need to scale up technology, hire more and focus on a customer and not sales-centric approach to match competition from the deep-pocketed tech firms, Kotak, founder and chief executive officer of Kotak Mahindra Bank, said at a forum Friday, organized by India’s International Financial Services Centres Authority and Bloomberg. ![]()
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