..........The challenge before the state was the large tracts of unbanked areas where pay-outs by the government under social development schemes became a problem. With the help of nationalised banks, the state government started in these 'shadow' areas what the Reserve Bank of India called ultra-small branches, Sharma said. But there were major innovative differences between the RBI's definition of an ultra-small bank and the Madhya Pradesh 'samriddhi' banking. The RBI requirement is that an ultra-small bank should have a minimum core banking solution terminal linked to a passbook printer and a safe for cash collection. It could be even a mobile banking system operational from a van or a kiosk. However, in Madhya Pradesh .............
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