India has been a hot topic, and we have been focusing on India for quite some time. There are countless articles and just so much FUD going around saying how India is going to ban cryptocurrency, and there is no way India will ever use crypto bla bla bla. We have been telling you the exact opposite for this entire year! Today we bring further proof that India is already on RippleNet.
Deepak Sharma who is the Chief Digitial Officer for Kotak Mahindrank Bank in India was recently on video in June talking about RippleNet. I will link the full video down below. Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 2003, the Reserve Bank of India (RBI) issued a license to Kotak Mahindra Finance Ltd., the group’s flagship company, to carry on banking business. In this video, Deepak Sharma talks about how Kotak Mahindra Bank teams up with Ripple to reach new corridors and to bring cheap remittance into and out of India. The key thing that Deepak said was that they (the bank) rather disrupt themselves then being disrupted by somebody else. Deepak also stated that by using Ripple they can fast track their blockchain use.
Sorry to say it, but RippleNet has moved into India months ago and we are now starting to see real-life usage.
Kotak Mahindra Bank offers banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, general insurance, life insurance, and wealth management. As of April 2019, it is the second largest Indian private sector bank by market capitalization.
We have written countless articles on this topic and we will link them all below: