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Physical Banks to be Out of the Picture in 3 Years: Niti Aayog CEO Amitabh Kant
January 23, 2018
Amitabh Kant, the Chief Executive Officer of India’s Think Tank body Niti Aayog, said that physical banks will become irrelevant in the next 3 years in India due to the popularity of data analytics and increased data consumption that will promote financial inclusion.
Kant said that India will generate a huge amount of data in the next 3-4 years, and there will be more than one billion smartphones in the country. He also pointed out that the mobile data consumption in India is twice that of US and China combined.
