Wal-Mart Moving Into Financial Services

The big leviathan Wal-Mart is moving into financial services, even after they had to abandon plans for a bank in the face of opposition from the banking establishment. Good for them, I say. It'll force the rest of the banks to shape up, in the face of the severe competition that Wal-Mart always brings. Like ICICI, I'm sure they'll also tap a section of the population who've been traditionally under-served by existing banks.