Payment Banks

In: Other Topics

Submitted By manmeetchatha
Words 3240
Pages 13
Financial Services

Topic: Payment Banks

Submitted to: Prof. Sayali M Submitted by:

Manmeet Kaur Chatha C-14 Naveen Yadav C-15 Supriya Rani C-25 Symbiosis Institute of Management Studies (SIMS) (A constituent of Symbiosis International University) MBA 2015-2017

16th February, 2016

INTRODUCTION
For the first time in India’s banking sector, the Reserve Bank of India is giving out differentiated banking licences. The in-principle go-ahead given on Wednesday to 11 ‘payments banks’ is, by the RBI’s own admission, an experiment — the latest in a long series of attempts to take banks to the unbanked. The push towards financial inclusion started with the nationalisation of 14 commercial banks in July 1969 through the Banking Companies (Acquisition and Transfer of Undertakings)…...

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