Business Today

Fixing Our Crumbling Financial System

How the Finance Ministry and the RBI can avert an economic disaster

Adecade ago, the Reserve Bank of India (RBI) mooted the idea of new differentiated banking licences to ensure financial inclusion. The idea was junked as policy makers decided against tinkering with the 70s commercial banking model. Today, differentiated banks such as payments banks and small finance banks are revolutionising banking by serving the huge under banked segments. There is another new idea on the table special wholesale

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