Spice Global, a US$ 2 billion diversified conglomerate, plans to apply to Reserve Bank of India for a banking license and diversify its financial services portfolio. Once the license is granted, Spice Global will be offering full-fledged banking services; with a focus on smart banking which is today a showing a 227{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} Y-o-Y growth, to its customers.
Spice Global has also been a pioneer and has strong domain expertise in m-banking and digital banking through its banking applications and value-added services that it currently provides to leading nationalized and private banks and institutions through its group companies.
Commenting on the diversification, Dr. B.K Modi, Chairman, Spice Global, said: “Spice Global has proven itself as an innovator in the digital service delivery models, especially in the finance domain in addition to having a countrywide distribution channel to cater to customers. Hence the decision to enter banking sector is a natural progression and is in tune with our philosophy of smart investing. We are confident that we will offer quality services to our customers and will contribute significantly to the growth and development in this segment.”
Spice Global has already been offering financial services through Wall Street Finance Limited, which has over 6,000 sub agents across the country, including Vijaya Bank, ICICI Bank, Kotak Mahindra Bank, etc. It has both the reach and experience to deliver financial services
