Having allowed 23 new entities to enter the banking space, Reserve Bank on Monday said it plans to grant more licences to promote financial inclusion.
“You already have two new universal banks, you may have around 11 payment banks, you may have 10 small finance banks, and going forward, it can be a continuing activity where new players are released into the arena by RBI, if everything goes as per the planning,” RBI Deputy Governor SS Mundra said.
“So there would be a large number of new players coming in. I think the key to financial inclusion is that all these players are taken into the national plan of financial inclusion”, he said.