RBI panel has suggested setting up of specialized banks to cater to low income households to ensure that all citizens have bank accounts by 2015-16.
It also suggested that facility for withdrawal, payment and deposit should be set up within a 15 MIN walking-distance anywhere in the country.
The panel, headed by banker Nachiket Mor to suggest steps for promoting financial inclusion.
The panel advocated setting up of 'Payments Banks' to provide payment services and deposit products to small businesses and low-income households with a maximum balance of 50,000 rupees per customer.
The panel said that there is a need for re look at the farm sector credit activities and suggested abolition of interest subventions and loan waivers.
Other News From Banks
Bharatiya Mahila Bank (BMB), the first all-women bank, signed an agreement with Institute of Chartered Accountants of India (ICAI) for financing students pursuing chartered accountancy.
It has also signed another MoU with ICAI for financing members of ICAI, practicing chartered accountants for setting up offices, BMB said in a statement.
Girl students pursuing CA will be offered a 1% concession in the rate of interest, it said.
To encourage more women professionals to take up practice, a concession of 1% in the rate of interest is being offered on loans to set up practice.
It also suggested that facility for withdrawal, payment and deposit should be set up within a 15 MIN walking-distance anywhere in the country.
The panel, headed by banker Nachiket Mor to suggest steps for promoting financial inclusion.
The panel advocated setting up of 'Payments Banks' to provide payment services and deposit products to small businesses and low-income households with a maximum balance of 50,000 rupees per customer.
The panel said that there is a need for re look at the farm sector credit activities and suggested abolition of interest subventions and loan waivers.
Other News From Banks
Bharatiya Mahila Bank (BMB), the first all-women bank, signed an agreement with Institute of Chartered Accountants of India (ICAI) for financing students pursuing chartered accountancy.
It has also signed another MoU with ICAI for financing members of ICAI, practicing chartered accountants for setting up offices, BMB said in a statement.
Girl students pursuing CA will be offered a 1% concession in the rate of interest, it said.
To encourage more women professionals to take up practice, a concession of 1% in the rate of interest is being offered on loans to set up practice.
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