The Financial Inclusion Plan drawn up by RBI envisages bringing more than 3.5 lakh villages into the formal banking network by March 2013. The count achieved till now is approximately 1.2 lakh villages. In view of the massive scale of rollout targeted, banks have been permitted to outsource part of the technology and manpower requirements of their FI projects from competent technology services providers (TSP). Further, RBI having permitted corporate entities to be enlisted as banking correspondents, eligible TSPs can also undertake BC services, thus participating end-to-end in the FI delivery process...........
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