ICICI Bank MD Chanda Kochhar: ‘No Competition From Payments Banks’

ICICI Bank’s MD & CEO - Chanda Kochhar believes that the introduction of payments banks will benefit the financial sector. She said that ICICI has already tied up with 2 payments banks, and will look at more partnerships as the sector evolves. On the transmission of rate cuts, she said that marginal rates cuts don’t leave much room for banks to pass on the benefits to consumers.