Bharti Airtel in talks with State Bank of India for mega alliance
Friday, August 22, 2014
Days after the Reserve Bank of India introduced draft norms for small and payments banks to boost financial inclusion , the nation’s largest telco by subscribers Bharti Airtel and the nation’s largest lender State Bank of India are exploring a mega alliance.
” Both parties have initiated talks for a payments banks alliance which if sealed will have multiple synergies across subscriber base, rural infrastructure and rural penetration. The talks are at a preliminary stage and no final decision has been taken, ” sources familiar with the development told ET NOW.