Big boys come out to play as battle for banks begins

.........The country today has 26 public sector banks, 22 private sector banks, 41 foreign banks and 56 regional rural banks, but more than half the population doesn’t have access to banking services. That’s where the central bank’s financial inclusion agenda comes in. The RBI has mandated that a fourth of a new bank’s branches must be set up in unbanked regions. More than the R500 crore of minimum capital — not a large amount these days — the bigger entry barrier will be the RBI’s “fit and proper criteria” and passing muster will not be easy.........

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