Spice Global to enter into the banking Sector, diversify financial services portfolio
Plans to Apply for banking licenses to offer quality banking services to customers
New Delhi, March 13, 2013 – Spice Global, a US$ 2 billion diversified conglomerate, plans to apply to Reserve Bank of India for a banking license and diversify its financial services portfolio. Once the license is granted, Spice Global will be offering full-fledged banking services, with a focus on smart banking which is today a showing a 227% Y-o-Y growth, to its customers.
Spice Global has also been a pioneer and has strong domain expertise in m-banking and digital banking through its banking applications and value-added services that it currently provides to leading nationalized and private banks and institutions through its group companies.
Commenting on the diversification, Dr. B.K Modi, Chairman, Spice Global, said: "Spice Global has proven itself as an innovator in the digital service delivery models, especially in the finance domain in addition to having a countrywide distribution channel to cater to customers. Hence the decision to enter banking sector is a natural progression and is in tune with our philosophy of smart investing. We are confident that we will offer quality services to our customers and will contribute significantly to the growth and development in this segment."
Spice Global has already been offering financial services through Wall Street Finance Limited, which has over 6,000 sub agents across the country, including Vijaya Bank, ICICI Bank, Kotak Mahindra Bank, etc. It has both the reach and experience to deliver financial services
About Spice Global
Spice Global is a US$ 2 billion diversified conglomerate that currently serves over 25 million customers across various sectors - telecom, finance, entertainment technology and healthcare – in the world. Established by renowned global entrepreneur and futurepreneur, Dr. Bhupendra Kumar Modi, Spice Global has expanded its footprint across Los Angeles, San Francisco, New York, London, New Delhi, Bombay, Dubai, Kuala Lumpur in addition to China and Africa.
Headquartered in Singapore, Spice Global currently employs about 9,000 employees worldwide. Spice encompasses a variety of businesses that harness speed, creativity and efficiency to invent, develop and market the products that are defining how we live today. Among the various businesses under the Spice Global umbrella, prominent ones include Si2i Mobility (holding co. of Si2i Limited and S-Mobility Limited), Spice Studios, Wall Street Finance Limited and Paper Plus. The Group has also recently forayed into healthcare services and will soon launch its first world class facility at New Delhi in India.
Spice Global has various listed entities.
- Singapore
- Si2i Mobility Limited. (SGX: M09) - India
- S Mobility Limited: (BSE Scrip Code- 517214) /NSE (Scrip Code – SPICEMOBIL) – SPICEMOBIL)
- Wall Street Finance Limited: (BSE Scrip Code 511147)
For further information please contact:
Anuradha Chawla/ Riticka Dutta
[email protected]/ [email protected]
+91 9899965560/ +91 9911717995
