Payments Banks - Plans, Partnerships and goals of each Licensee
The Reserve Bank of India (RBI) on Wednesday gave in-principle approval to 11 entities to open payments banks that will widen the reach of banking services and push the government’s goal of financial inclusion.
The new category of banks, which some experts said could prove to be disruptive, will provide basic savings, deposit, payment and remittance services to people without access to the formal banking system.
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