Last month, HDFC Bank picked up a 5.2 per cent holding in Mintoak Innovations, a merchant solutions’ provider, for Rs 10 crore. In February, ICICI Bank acquired 5.40 per cent in CityCash, a micro-payments player, for Rs 4.93 crore, and 9.63 per cent in Thillais Analytical Solutions — which operates the neo-banking platform, Vanghee — for Rs 6.03 crore.
These are tiny in terms of deal size, but major steps in the banks’ efforts at getting their digital act spot on. And it mirrors a global trend. New York-based C B Insights has it that banks are ...
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