WhatsApp-like movement in financial sector: Nilekani

 Infosys co-founder and former Aadhaar chairman Nandan Nilekani said that with the emergence of technology advances like payment banks, e-sign, and immediate payment service (IMPS), India's financial sector would witness a WhatsApp-like movement this year. He said IMPS was likely to overtake debit and credit card transactions, with digital payments growing by eight times. 

Nilekani was speaking at the TiE Leapfrog 2015, a conference organized by The Indus Entrepreneuers (TiE) and focused on entrepreneurial opportunities that emerge from the collision of megatrends - IoT and digital platforms - and existing businesses Stock Market Trading Tips

He described payments banks as a great piece of innovation from RBI. "The challengers (payment startups) are likely to defeat the incumbent players (banks) in this space," he said. 

Sachin Bansal, co-founder of e-commerce giant Flipkart, said there was a real possibility of offline retailers in India stopping to grow or disappearing. "India is leapfrogging offline retail," he said. He said Flipkart was experimenting with a new interface that integrated videos, texts and images, to tap into the rural population. Asked about competitor Amazon, he said, "They have a good website Himanshu Tiwari Astrologer Blog