.....In the last few years, especially after the financial crisis, there has been so much tightening in regulation and lending practices that we are not seeing significant amount of innovation in the banking space. If you don’t keep pushing, we will get into a situation in which you will perform according to averages. We do have a significant business that can be transferred into a bank. But for those that start from scratch, my thinking is they will need a differentiated strategy; otherwise, they will only act to drive down prices. The Reserve Bank of India has talked about niche licences; there are opportunities. ......
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