Hi Manas, thanks for reading. The sources we are quoting are those who were in the thick of things, they are not just anyone who works in financial services. SBI Card does not issue debit cards. Plus all the big bang BBD discounts were all credit card deals struck with different banks. The point you are referring to was in the context was how they ran this as a private company. Please see it in that context.

Arundhati Ramanathan

You are right, Aman. SBI got Rs 2,800 cr out of the Rs 10,000 cr. SBI Cards got about Rs 500 cr and the rest went to Carlyle. We have corrected it, now. Thanks for pointing it out.

Arundhati Ramanathan

Hi Shravan, Amex operates on a restricted banking license. So yes only banks can issue credit cards (except for SBI and BoB)

Arundhati Ramanathan

Not sure how NPCI will execute it, Deepak. Some conversations I had indicated that they will limit the number of new user sign-ups.

Arundhati Ramanathan

The payments companies have always wanted their own handles, Krishnan. But it is very clear banks own the handles in this partnership. This solution of not changing handle but changing bank is a stop-gap from what I can tell. I agree with you, each third party app has made sending money to handles supported by other apps/banks so difficult that each person has multiple UPI apps.

Arundhati Ramanathan

Lokesh, this is what reporting relying on sources is about. Also, it is your question that we actually answered with the story, btw.

Arundhati Ramanathan

Shilpa, it's not speculation, it is reporting. When we asked the company, it didn't tell us why what we have is wrong. If and when they do, I ll agree with your assessment that we relied on speculation.

Arundhati Ramanathan

That's a different story Nishant. We chose to do this first, as the events were unfolding in front of us. And this is an area we track closely.

Arundhati Ramanathan

Vybhav, the story goes where the reporting takes us, like any news story. It is good journalism practice to say We couldn't verify it independently. Meaning I could not visit their data centers to see if this is true, but instead relied on sourcing. We analyse the motives of the sources when they share something and also test it for logical consistency before publishing it. Also, we have given the company the chance to respond. So there is no question of us doing willful damage to the reputation of the company.

Arundhati Ramanathan

Hi Sai, we go where our reporting takes us. And rely solely on that. For you to say something is not correct, it ll help us if you can share what is accurate then.

Arundhati Ramanathan

Milind, if one slept at the wheel mostly and woke up just in time to make a quick turn to avoid a head-on collision is that agility or shoddy driving?

Arundhati Ramanathan

UPI growth rates are falling is something I'm not saying, the data is pointing that way :)

Arundhati Ramanathan