Online banking will kill physical banks in 5-6 years: Kant
NITI Aayog CEO Amitabh Kant has said the next 5-6 years will see "the death of physical banks". It'll be difficult for physical banks to survive because their cost will be enormous compared to online instruments, he stated. Kant added that in last 45 years 28 bank licences were issued, against 21 payments bank licences issued within last 18 months.