Manavjeet Singh was at a crossroads in his career. With two decades of banking experience, he felt dulled by another job switch. Having worked with Yes Bank, Reliance Consumer Finance and HDFC Bank in senior management roles — and with an offer to helm retail banking for another large bank in hand — he needed to take a call on what he wanted to do next.
Bhavnagar, a city of about 6 lakh people in the Saurashtra region of Gujarat, makes headlines for being one of the hottest — if not the hottest — in the state. Seven years ago, Dhyey Chitalia left his home for Mumbai to study.
Powered by technologies that harness big data, fintech companies are positioning themselves as viable lenders and payment solutions providers with mobile wallets and insta-loans.
HSBC said most private banks have been prudent lenders and have gained from a high proportion of retail business on their balance sheet.