Telenor, Vodafone to apply for payment banking permits

bankNorway’s Telenor and British telecom major Vodafone are set to apply for payment banking permits in India, according to reports.

The companies are in discussions for roping in a local partner each since current guidelines don’t allow foreign entities to fully own a payment bank.

As the payment bank guidelines limit foreign holding at 74%, they need to find local partners to provide the service that offers a new revenue opportunity.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.