BharatPe Chairman Rajnish Kumar allegedly showed early signs of "wanting control" and to "make money out of BharatPe", the fintech platform's former Co-founder and managing director Ashneer Grover has claimed in his book .
The employees of several public sector banks, including State Bank of India, Punjab National Bank, and Bank of Baroda, are on a two-day strike to protest the proposed privatisation of the state-run lenders.
Rajnish Kumar joins BharatPe Board as the Chairman adgully.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adgully.com Daily Mail and Mail on Sunday newspapers.
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While the banking system continues to be underpenetrated and growth opportunities are ample for new and existing market participants, digital disruption is not likely to change the structure of the Indian banking system, says a research report.
In the report, ratings agency Standard & Poor s (S&P) says, We assess the risk posed to the incumbent banks longstanding market position due to disruption in the industry as low. In our view, digital disruption is unlikely to change the structure of the Indian banking industry, and we expect large banks dominating and gaining market share for at least the next two years.