India has had a long history of initiatives to bring about financial inclusion since 1947. The Reserve Bank of India (RBI) and the ministry of finance have been striving to achieve financial inclusion through a series of programmes starting with nationalisation of the Imperial Bank to State Bank of India in 1955, introduction of cooperative banks, State takeover of major banks in the 1960s, opening of regional rural banks, priority sector lending programme, banking correspondent model, the no-frills account etc. However, all these initiatives have met with limited success..........
Read - Hindustan Times
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