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In past few years a number of deviations have been observed in the B meson decays, both in the flavor changing neutral currents involving $b \to s$ transitions as well as charged flavor changing processes in $b \to c$ transitions. The recent measurement of $R_K^*$ indeed supports these previous observations. In this talk, I will summarize the various possible new physics explanations both in terms of effective field theory as well as models. The talk would be based on the following papers:
https://arxiv.org/pdf/1704.07397.pdf
https://arxiv.org/pdf/1705.08423.pdf