Why banks don't need as many branches as they have right now

UPI as revolutionary an idea as ATMs were 20 yrs ago, says Stuart Milne, Head, HSBC India

Milne tells Niraj Bhatt and Anup Roy why banks don’t need as many branches as they have right now and how the UPI is as revolutionary an idea as ATMs were 20 years ago

The chief executive officer of one of the oldest foreign banks in India has a unique way of attracting new business. He invites existing customers to his house for dinner and asks them to bring a friend. “If some of the guests open accounts, it can be quite valuable for us,” says Stuart Milne, head of HSBC India. While his dinner receptions would be lavish affairs,