Yadvendra Tyagi , Director of Business Development, Citrus Pay, in conversation with Payal Bhattar, at the Ground View Conference 2016.
Yadvendra Tyagi senses that changes brought into banking sector by technology will go a long way. Technology looks promising enough to bring in constructive descriptions into the banking space today. He believes that in future bank accounts might disappear though with a few drawbacks. Banking is going to change forward for more conveniences for the consumer, bringing more value-adds to the consumer and making sure that the life of a consumer eases out much more.
At the same time, Yadvendra doesn’t expect a total revamp to the banking sector. He points out, ‘World over we have been seeing some banks being given license without having a single branch or a mobile app. This is where the disruption is coming about. ’
He however doesn’t share the opinion that India’s regulator needs to change. In fact he is confident enough in the ability of the regulator to say that RBI has been very forward-looking. RBI has been doing a good job by following the simple logic that end consumer is not losing money out.