NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Noting the growing popularity of mobile banking in India, the RBI wants to ensure the availability of banking services in all areas through low cost delivery channels by bringing fixed point locations such as cash machines on a par with bank branches.

States the central bank: “In the light of the rapid developments in technology and associated digital and telecom revolution, banks are looking at alternative approaches to enlarge their footprints and reach out to the unbanked and underserved centres in remote areas in a cost effective manner.”