The Reserve Bank has issued the instructions asking banks to consider raising Tier II capital through public issuance to retail investors. iii.
In China there are two at the forefront of this – AliPay and WeChat Pay. But Google, Apple, Facebook and Amazon all have some payment functionalities within their networks that they could potentially expand. Moves to require banks to share the data of their customers with other participants (open banking) have the potential to further promote competition and innovation.