Before proceeding further, I should mention with immense grief that Dr. Mohsen Nourbaksh, the Governor of the Central Bank of the Islamic Republic of Iran is no more with us. He was one of the finest and leading personalities of the ACU fraternity. I request this House to stand in silence and pay our humble respect to the memory of Dr. Nourbaksh.
These groups have recommended that the IDRBT could offer interest free loans to UCBs and RRBs for adoption of IT. Based on comments and response RBI will be firming up these schemes. Recognizing the penetration of mobile phones (including amongst the low income population) and the enormous opportunities they offer in extending the banking outreach.