Proactive regulation could help a billion to access financial services by 2020

imf-world-bank-spring-meeting-2015

The president of the World Bank, Jim Yong Kim, has praised the efforts of the Reserve Bank of India (RBI) and governor Raghuram Rajan – as well as the Indian government – in helping tens of millions of Indians to be offered basic financial services for the first time.

The RBI's decision to accept a new government-launched ‘unique ID' scheme as sufficient for banks to meet electronic ‘know your customer' (KYC) rules has helped a total of 33 million Indians to gain access to financial services in

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