SBI Developing Low-Cost Model to Counter Payments Banks

Kolkata: Country's largest commercial banking entity State Bank of India (SBI) is now developing a low-cost model to compete with payments banks. "We are working out on a low-cost structure to compete with the payments banks for getting access to people living in the remote areas", SBI chairman Arundhati Bhattacharya said on Friday. Ms Bhattacharya said that the only advantage which the payments banks would have over other banks is...