India Announces First Bank Licences in a Decade
Thursday, April 3, 2014
The Reserve Bank of India (RBI) announced “in-principle” approval for Mumbai-based IDFC, a major infrastructure project lender, and microfinance company Bandhan Financial Services, located in eastern India, to establish banks.
Just 35 percent of Indian adults have bank accounts, a figure which the RBI calls “miniscule” and says shows a “crying need for a further push to the financial inclusion agenda” to include India’s poorest.
Source: Global Post (link opens in a new window)
- Categories
- Uncategorized
