Rajnish Kumar, Chairman of Mastercard India and former Chairman of the State Bank of India (SBI), emphasized on Thursday that depositors have their trust firmly placed in the traditional banking system rather than fintech companies.
Addressing the CII Banking Conclave in Kolkata, Kumar stated that fintech companies are challenging the conventional banking system in innovative ways. He also noted that banks are increasingly recognizing the importance of innovative capabilities and adapting swiftly to changing times.
