This, I must say, is quite commendable and in line with Government’s objective of empowering rural masses by bringing financial services to their door-step. I therefore would like to applaud both, the Board and Management for their efforts and hard work in this regard.
However, most of them do not fully meet the requirements to be considered a global currency. Furthermore, they remain a tiny portion of the total. If we exclude the US dollar, the euro, the British pound and the yen from the estimates, the share of other currencies in global international reserves amount to around 7 percent at present.