Axis Bank CEO says banks are fighting back against fintech rivals
Axis Bank MD and CEO Amitabh Chaudhry stated that banks are increasing their efforts to win back the market share they previously ceded to fintech companies. Chaudhry noted that the competition is mutual, stating, "We are also attacking them every day. It's not just one-way traffic." He admitted that fintech firms have successfully gained a large portion of the market in specific areas, pointing to the brokerage sector as a key instance.
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