Majority of poor remain excluded

.....The statement comes at a time when the RBI has indicated that the country would soon get its first payments bank in place. Such a bank would not extend credit, but will provide deposit and payment services. An RBI panel, headed by Nachiket Mor, had proposed the payments bank concept. As against a full-service bank, needing an initial capital of `500 crore, payments banks need just ` 50 crore entry capital to begin operations. India Post, with its nationwide reach, is among the main entities being considered for the payments bank route......

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