........This is required to meet the financial-inclusion objectives, the Department of Financial Services, under the finance ministry, has said in a communiqué to government-run banks. But central bank officials are not amused. They see this as an attempt to enter the turf of RBI, which regulates the country’s banks. According to central banking sources, RBI Governor Raghuram Rajan has been briefed about all government instructions to banks that are seen as trespassing into areas under RBI’s jurisdiction.......
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