What’s On

Trending in India: Payment banks to take India ahead

One of the most prominent trends that India is talking is – 11 of 41 applicants securing license for payments banks in India. The Reserve Bank of India, Indian financial regulator has given principal approval to 11 applicants for payment banks. Marketers claim that payment banks will change the phase of banking system in India.

RBI has granted in-principal approval to some of the industry barons such as Aditya Birla Group, Reliance Industries, Airtel, Vodafone, which will enter the banking game to change the concept of money for you and me. But something that has caught my personal attention is Paytm, the mobile wallet pioneer joining the league of payment banks along with famous industry majors.

There is no dearth of coverage that has been garnered by these players. There is no debate if the payment banking license is a big deal for Indian consumers or not. Twitter is abuzz with the market development with media publications disseminating the news announcement and industry professionals congratulating RBI on its efforts.

The development is still in its infancy stages and it may take a while longer to fetch results in the Indian economy given its attitude to changes in the financial system. But going forward, we can look forward to a slew of measures which will be aimed at giving more convenience to the consumers by making them tech savvy in Digital India.

Another event that caught the attention of social media bugs in India is #PMPardesi which is dissecting every move of Prime Minister Narendra Modi on his yet another foreign trip…this time it is UAE. You should have seen this coming, ‘Trending in India’ cannot go without a mention of PMPardesi’s tours around the globe.

Twitteratis’ reactions include, “There are 195 countries in this world, Our Selfie Star has visited only 25 yet. Give him some time let him complete 100 atleast #PMPardesi,” by Afroz Alam and “Is he pulling off an Around the World in 80 Days? #PMPardesi,” by Sejal Goyal, among others.

There will be numerous occasions to talk about the achievement of the Modi government but this time social media users chose to derive interpretations from PM’s tour to UAE.