RBI’s Chakrabarty notes progress in Indian banking sector

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Reserve Bank of India deputy governor, KC Chakrabarty, has said the banking sector is on the "cusp of a defining decade". In remarks released by the central bank on February 17, Chakrabarty said the Indian banking system had "come a long way in terms of technology, business systems and processes". Noting it's success through the financial crisis, he warned that going forward, the system "needs to focus on the key drivers of growth to be globally competitive". Financial inclusion, competition,