SBM

Last week, the central bank had asked SBM to stop all transactions under the liberalised remittance scheme (LRS) until further notice

The RBI, on Monday, ordered SBM Bank to stop all transactions under the liberalised remittance scheme (LRS) until further notice, citing "material supervisory concerns" but no further detail

As the third largest fintech ecosystem in the world after the US and China, the Indian fintech market is poised for further disruption with the emergence of neobanks

SBM Bank on Monday said it has partnered with fintech player OneCard to launch a mobile-based credit card

Sidharth Rath, MD and CEO, spoke to Raghu Mohan on the scale of the bank's ambition and the collaborative approach to rolling out business in its new avatar

The bank expects to commence operations in September

Apart from SBM, DBS and ABN Amro Bank have also applied to RBI to convert their franchisees to local subsidiaries