Chairman of Mastercard India Rajnish Kumar on Thursday said that the trust of the depositors is with the banking system and not with fintech companies.
As against this, global fintech investments stood at a whopping $105 billion across 2,861 deals in the year, the third-highest annual total ever, as per the data collated by KPMG India.
Jaideep Hansraj, MD and CEO of Kotak Securities said broking and distribution business has become more of a technology play and this has gained further prominence in the new normal.