RBI panel headed by Nachiket Mor also seeks universal electronic bank account for all adult Indian citizens by January 2016
Mumbai: A Reserve Bank of India (RBI) panel has recommended that a special category of banks, called payments banks, be set up to widen the spread of payment services and deposit products to small businesses and low-income households in Asia’s third-largest economy, where about 40% of the population still do not have access to formal financial services.
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