......The standing committee also questioned the rationale behind the view that more banks will help in achieving greater financial inclusion. It pointed out that as of March 2013, only 17% of the total branches of private sector banks was in rural areas. “Given such a background, the Committee are apprehensive that industrial/business houses may not be geared to achieve the national objectives of financial inclusion, priority sector lending etc,” it said. The committee said the RBI should ensure that for every three branches opened in urban areas, there is one in a rural area.............
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