PhonePe revealed its foray into banking

PhonePe, one of India's leading digital payment companies supported by multinational retail giant Walmart, has revealed its foray into banking, mutual fund and instant cash markets to tap into the rapidly growing digital payment market, expected to reach $10 trillion by 2027.

According to reports, PhonePe aims to exploit its rapidly growing user base, now comprised of 18.5 crore citizens, to join both insurance and cash markets.<....