There would be new entities in the form of small finance banks and payment banks. Also on the payment system side some players have been allowed to issue the pre-paid cards up to a certain extent. So these all are creating more enablers in the supply side. What are the challenges? 17. Challenges exist on the demand side.
There are certain barriers to demand side and they are important. Important because the customers who are financially literate would demand information and thereby play an important role in ensuring transparency among the financial institutions. The transparency in the market encourages institutions to compete on the basis of better products and services and at lower cost.