Friday, July 5, 2013

'Industry approves RBI conditions on new banks'

.........A big majority (88 per cent) gave a thumbs-up to RBI's condition that applicants be prepared to set up at least 25 per cent of branches in hitherto unbanked rural centres. Currently, only 35 per cent of the population has a formal bank account, as compared to an average of 41 per cent in other developing economies............

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