What are the challenges?
First, we would have to comply with whatever norms the central bank prescribes. Right now, we are doing banking mainly through the business correspondent model. We will have to change it to a banking structure. And, given the number of new licences issued, we will have to ensure we are uniquely placed. However, we already have done a fair amount of research on what we need to do.
Your micro finance institution (MFI) structure is slightly different from others, as you are an urban-focused MFI. What will be your focus as a bank?
We are urban-focused at present, but as a bank, we will also focus on rural areas. We will continue our focus on micro entrepreneurs.
Would you need any additional capital?
Not at the moment, as we are adequately capitalised with over Rs 1,000 crore.