Payments Banks Continue to Struggle
Civil services chronicle The financial health of 'payments banks', a
concept cham¬pioned by the Reserve Bank of India (RBI) to further the cause of
financial inclusion in the country, has set the alarm bells ringing. civil services chronicle magazine The consolidated net loss of all the payments
banks (PBs) in the country has more than doubled to Rs 516 crore from Rs 242
crore in the previous fiscal. In FY17, only two PBs had reported their
financials, while the FY18 data are for five players. civil services chronicle subscription online The losses have been attributed to the high
operating expenses, as many of these banks had to set up the initial
infrastructure. The expenses have gone up by five times as they have to go
deeper in a bid to tap the unbanked customer Civilservices chronicle.
