Government of India target can be achieved provided there is concerted action from all market participants across policy makers, project owners, investors, lenders as well as power off-takers
Banks should re-imagine their operating models through holistic transformation. Banks also need to leverage technology and data to improve efficiency, reduce costs and re-position the business for growth.
When commercial banks in India are burdened with NPAs and infrastructural needs of the country are huge to reap the full growth potential, the proposal to set up WLTF banks is really opportune at the current juncture.
Banks spend around 80% to 90% cost in maintaining these legacy applications and there is less budget available for innovation with the newer technologies.
Robo advisory will complement the financial advisory landscape, paving way for enhanced financial inclusion
There are two key critical areas that deserve attention to make WLTF banks a success. Firstly, identifying the right source of funds for WLTF banks and secondly, selecting the right promoter group for granting the license.