.........In draft guidelines released last month, the central bank envisaged a new category of banks to provide limited services such as accepting savings deposits and remittances, particularly in rural areas. These banks have been designed to provide basic banking services like deposits and remittances to people who deal with small amounts. These banks are needed to have a wide network of branches or access points, particularly in remote areas, and have to keep costs low by using technology in order for their services to be accessible to a larger number of people.................
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