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. https://www.businesstoday.in/magazine/cover-story/fixing-our-crumbling-financial-system/story/354902.html
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FIXING OUR CRUMBLING FINANCIAL SYSTEM
A decade ago, the Reserve Bank of India (RBI) mooted the idea of new differentiated banking licences to ensure financial inclusion. The idea was junked as policy makers decided against tinkering with the 70s commercial banking model. Today, differentiated banks such as payments banks and small finance banks are revolutionizing banking by serving the huge under-banked segments. There is another new idea on the table - special wholesale banks for meeting long-term financing needs of the economy. The Rs 160 lakh crore banking industry does everything from project financing and development financing to commercial banking and that is one of the biggest reasons it is in a mess. ANAND ADHIKARI READ MORE