This Article is From Jun 12, 2014

India to Come Out With Payment Bank Shortly: RBI Deputy

India to Come Out With Payment Bank Shortly: RBI Deputy
Mumbai:

The Reserve Bank of India will come out with a payment bank soon, Deputy Governor H. R. Khan said on Thursday.

A committee appointed by the RBI had proposed the formation of payment banks to widen the spread of payment services and deposit products to small businesses and poor households in a country where about half of the households are outside the banking system.

Khan was speaking at a banking event in the city.

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