.............To improve last mile connectivity, the RBI has decided to involve private entrepreneurs in the distribution function. The cash-in-transit companies/ business correspondents have been allowed to process coins and banknotes, including packaging, sorting and delivery to banks’ customers and for retrieval. Banks, including urban co-operative banks and regional rural banks, are also being involved to ensure that last mile delivery of cash-related services penetrates throughout the country. Chakrabarty said the RBI has also initiated a pilot exercise under..........
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