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HDFC Bank CEO On Paytm Crisis | NDTV Profit
NDTV Profit
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2/19/2024
Whatever has happened with #Paytm is unfortunate, says #HDFCBank CEO, Sashidhar Jagdishan.
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00:00
Whatever has happened on that particular entity is rather unfortunate.
00:04
So obviously there is a little bit of an unknown.
00:08
I mean, I know nothing more than what you would or anyone else in this room knows.
00:16
So having said that, I think they do have a great tech platform
00:22
and that is what we have a partnership which sort of harnesses that.
00:28
And it's not a big thing.
00:30
As I said, these are experiments that we are happy to sort of continue
00:36
as long as we maintain control of the regulatory norms, etc.
00:42
Now, does it open up a lot more opportunity?
00:49
If you really look at it, I think we are far more sanguine on what we want to acquire.
00:57
Even on the merchant side, let's talk about where all they were very good.
01:02
The Fastag is something that they had a reasonable market share.
01:08
Now obviously that may get distributed amongst a lot of other people.
01:14
Yes, there may be some amount of shares that will be there.
01:17
Then you have Paytm app, it was a very good app, very well respected.
01:24
A lot of active users on that.
01:26
I guess we have a Payz app which probably can get a slightly better run rate
01:32
and that's what we hope to have.
01:34
On the merchant acquiring, I think they were also one of the large players there.
01:40
We probably may deal with a certain segment which is quite an attractive opportunity.
01:47
I don't want the entire thing because we are focused on a certain segment
01:52
which makes economic sense.
01:55
So we are finding these pockets of opportunities to do so.
02:00
I think these are some of the things that are there.
02:05
I think the franchise is ready to take on anything that comes their way
02:11
which makes economic sense.
02:13
We are not in a hurry to say I want that much or I want the entire thing.
02:20
That's not how we operate.
02:22
As I said, the underlying thought process is it has to make economic sense
02:29
for whatever we assume.
02:31
So we are on that track organically I guess at this juncture.
02:35
We are in the market trying to pick up the ones which are available
02:41
and that's what we are trying to do.
02:45
[Music]
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