The Reserve Bank of India (RBI) is considering ways to link the rapidly growing e-commerce platform to the banking sector, just like it has linked mobile phone operators to the banking system through the soon-to-be launched payment banks, RBI deputy governor H.R. Khan said. "E-commerce is galloping at a fast pace and we have to take cognisance of it. Just like we allowed telecom companies to apply for payment banks because the customers for both are the same...we are not averse to allowing e-commerce companies to form joint ventures with banks or become banking correspondents," Khan said RBI is contemplating a system for e-commerce so that there is both competition and cooperation.
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