10 Challenges That Could Make or Break India’s Payments Banks

Categories : Digital Money and payments, Technology and Operational Enablers

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Author: Cleo Turner

In the year since it was launched, India’s national financial inclusion drive has generated plenty of headlines – and even scored a Guinness World Record. The Reserve Bank of India (RBI) announced that it has issued in-principal approval to 11 of the 42 applicants that requested Payments Bank (PB) licenses. The government’s goal for these banks is that they further financial inclusion. This article explores the potential impact of this decision.