India's largest corporate house, Reliance Industries, has managed to rope in the country's largest lender State Bank of India, as its minority partner to head the list of applicants seeking a licence for setting up a specialized bank. More than 70 applicants such as Vodafone, Aditya Birla Group and Airtel are said to be interested in setting up either a payment bank or small finance bank .These specialised banks can change the banking landscape by promoting digital payments both for money transfers and for payments.