..............The earlier policies that pushed for financial inclusion were not very successful. According to the Reserve Bank of India (RBI), nearly 50% of the basic saving bank deposit accounts that were opened during the “Swabhimaan” campaign remained dormant. The banking correspondent (BC) agents that delivered banking services at the village level found the business model flawed as it failed to provide adequate remuneration commensurate with their efforts and investments. The banking product suite offered for these accounts was also limited............
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