Banks don't have money to burn for building UPI businesses: Axis Bank MD
- Axis Bank's MD Amitabh Chaudhry also opined that businesses like UPI are loss-making and also lack cash flows, and wondered how their valuations keep going up.
Following being chided by the Reserve Bank of India for allegedly missing the Unified Payments Interface (UPI) race by not investing early, Axis Bank's MD Amitabh Chaudhry said banks do not have money to burn for building such businesses, news agency PTI reported on 8 December.
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