Electronic benefit transfer Current Affairs, GK & News

Financial Inclusion: New operational guidelines on Financial Inclusion

The new RBI guidelines on Financial Inclusion have shifted the onus from “‘one district-many banks” to “‘one district-many banks-one leader bank“. The new operational guidelines are for the implementation of a transfer system (Electronic Benefit Transfer) for servicing low-value accounts and extending banking infrastructure to under-served low income areas. Here are a few notes: What ..