....... India remains an underpenetrated market when it comes to financial services. I believe one of the big changes that we may see with the new wave of banking licences is the focus on innovation to drive financial inclusion. The new banks will look at under-penetrated segments of the market, where existing competition is low, in order to service customers who are currently excluded. The new banks will probably have to develop new, low-cost distribution models. Technology will also play an important role here and I believe we will see the next level of use of technology, especially for analytics. This will result in efficient customer acquisition, better risk management, better customer service and reduce the cost to serve............
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