Central Banking

RBI deputy wants to make banking a 'fundamental right'


A Reserve Bank of India deputy governor, Kamalesh Chandra Chakrabarty, believes banking services should be a fundamental right for the country's population, and on February 9 urged banks to overcome the remaining obstacles to universal access.

Speaking at a conference in Kochi, Chakrabarty said banks would ideally provide banking services to all on their own accord but, since they do not, regulation must be used to try and forge a second-best solution.

"Our instructions to banks are to open a

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