A couple of years ago, standalone and easy-to-operate wallets such as Paytm, Freecharge, Citrus, and MobiKwik shook up banks by offering huge discounts.
In an interaction with ET, Dipak Gupta, Kotak Mahindra Bank’s joint managing director, talks about the pain and the gains that the economy may see in the next few years.
Jayant Rikhye is currently group general manager, head of strategy and planning and regional head for the bank in 11 markets in Asia Pacific, based out of Hong Kong.
The allshare deal announced on October 14 is likely to be completed in 10 months.
DCB Bank reported a 23% increase in net profit year on year led by a strong growth in net interest income even as asset quality remained stable.
"I can tell you that from day one, it's accretive to my net interest margin, RoA, RoE, and capital."
Announcement follows an exclusivity agreement signed by both sides around a month ago.
Following are a few key takeaways from the bank's results.
MSMEs are currently reeling under the twin impact of last year's demonetisation and GST.
The amount has touched Rs 400 crore. This was dominated by a broad section of investors including domestic mutual funds and insurance companies.
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