Rural India’s inclusion in Indian banking system

July 11, 2022

The Reserve Bank of India has pointed out that the banking capacity of regional banks provides significant opportunities for the economy and banks to build a stable base of retail deposits and reduce volatility through portfolio persification.

Indeed, the recent crisis has highlighted the need for banks to reduce their dependence on wholesale deposits and loans and build a portfolio of retail assets and liabilities to ensure financial stability.

Current policy goals of inclusive growth and financial stability cannot be achieved without affordability. However, seeking to improve access to financial services through the introduction of digital products and processes poses challenges in finding trade-offs between the goals of improving access to financial services and financial stability.

Few facilities for self-management of infrastructure and digital banking services, unless financial and operational support is provided by digital financial and operational companies such as Techurate.

The facts remain in terms of numbers, with local regional banks far outnumbering city banks. Most of our country still operates from these segments and continues to work on traditional banking methods suffering from poor service and trips interrupted. The global market with a subscriber base of 1.16 billion and has experienced strong growth over the past decade, Smartphone penetration is around 35%; it also leaves the majority hooked on transaction-capable phones.