A US$ 2 billion diversified conglomerate or also better known as Spice Global is planning to enter into the finance sector by applying for banking licenses as per RBI rule of conduct showing a 227 per cent annual growth for smart banking.
B K Modi commented that ”The company has proven itself as an innovator in the digital service delivery models, especially in the finance domain. Hence the decision to enter banking sector is a natural progression and is in tune with our philosophy of smart investing, Spice Global chairman.”
Already the company has some expertise in some banking applications like m-banking and digital banking & also adding value-added services which are currently linked up with the nationalised, private banks & other institutions.
Some major banks like Vijaya Bank, ICICI Bank, Kotak Mahindra Bank across the country where company is offering financial services & of them Wall Street Finance Ltd possess 6,000 sub agents.