......The North Block has already begun discussion with the central bank on the framework that will prescribe profit, capital adequacy, size and any other condition it deems fit for such banks to graduate into full-fledged banks. "We have written to the RBI asking for a clear roadmap for the smaller banks that want to expand," a senior finance minister official told ET...............
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1 comment:
This is the right approach. We must use the existing banking infrastructure simultaneously with creating new ones. The human resources and physical infrastructure in cooperatives and RRBs and to some extent in rural branches of commercial banks were ignored while promoting sophisticated borrowed ideas like SHGs and Banking Correspondents. Cooperatives and RRBs were trained to cater to the rural areas and handle small accounts. When technology invaded from above, they were left in the lurch. The present approach of Centre will give RBI an opportunity to revive a neglected sector.
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