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Tech Mahindra receives approval to set-up payment bank

20 Aug 2015 Evaluate

Tech Mahindra has received an in-principle approval from the Reserve Bank of India (RBI) to set up payment bank under the Guidelines for Licensing of Payments Banks issued on November 27, 2014.

Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.


Peers
Company Name CMP
TCS 2435.60
Infosys 1123.50
HCL Technologies 1410.50
Wipro 193.90
Tech Mahindra 1767.80
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