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Indian fintech is funny if you watch closely.
Banks in India are trying very hard to become fintech companies. They want better apps, faster onboarding, sleek UX, instant payments, AI support, and developer APIs. Basically they want to look like startups.
At the same time, fintech startups in India are trying very hard to become banks. They want licenses, deposits, lending books, stable balance sheets, and regulatory trust. Basically they want what banks already have.
So banks are chasing fintech energy, and fintechs are chasing banking licenses.
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