Sorry, I didn’t go into digispice investor ppts earlier. They do mention CASA services but I believe they provide these services for some bank for a commission. I came across this news item after a few google searches.
https://investmentguruindia.com/StockMarket/Digispice-Technologies-surges-as-its-arm-partners-with-Axis-Bank
In this situation Axis bank gets the benefit of low cost funds and any subscription or service charges whereas Spice gets a commission for opening the account. This is very similar to the BC banking business reported by Fino. Fino used to provide these services to Union Bank if I remember correctly. So the casa services offered by Digispice is a low margin business. Digispice may be able to open wallets but that cannot be used for DBT transactions. I am not saying Fino is superior to Digispice( I haven’t looked deep into its business) What’s concerning is Fino’s inability to grow its referral lending business. It has many banks like ICICI and Union bank among investors in its parent.
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