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RBI to come out with a payment bank shortly: deputy governor H.R. Khan

LiveMint logoLiveMint 12-06-2014 Suvashree Dey Choudhury

Mumbai: The Reserve Bank of India (RBI) will come out with a payment bank soon, deputy governor H.R. Khan said on Thursday.

A committee appointed by the RBI had proposed the formation of payment banks to widen the spread of payment services and deposit products to small businesses and poor households in a country where about half of the households are outside the banking system.

Khan was speaking at a banking event in the city. Reuters

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