......In view of the widely prevalent economic disparities, financial inclusion becomes imperative to usher-in inclusive growth. The agenda of inclusive growth is reflected in the policies and regulations that the policymaking and regulating institutions, like Government of India and RBI have been working upon in last ten years. Measures have been taken to include the financially neglected rural areas by relaxing the KYC norms and the use of banking correspondents aggressively. RBI has been proactive in including the cashdriven, under banked, semi-urban and urban population for their digital financial inclusion. They’ve done so by increasing the number of ATMs by 25% each year for last couple of years, reducing their transaction costs for electronic payments by having banks reduce the MDR for debit cards and NPCI -driven IMPS and Rupay card thus, enabling low cost digital transactions...........
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