Waiting for the banker

..... To sustain the BC model, RBI has advised banks to open ultra-small branches to support a ten-BC-cluster in a four-kilometre radius. But as the RBI is discovering, opening accounts does not ensure automatic financial inclusion. The low number of transactions per account is adversely impacting the viability of financial inclusion efforts and has to be addressed fast before stakeholders lose interest. The push for direct benefit transfers to Aadhar-linked bank accounts will hasten financial inclusion and increase transaction volumes as subsidies, scholarships and welfare payments are disbursed........

Read - DNA Mumbai Edition Page 10