Any complex change will induce opposition and concern, in part because of fear of change and comfort with the known rules, in part because of preference for other alternatives by those affected, and in part because of anxiety that it may upset current competitive positions.
This is, indeed, a very welcome step and will also, in a sense; help take forward the Reserve Bank’s financial inclusion and financial literacy efforts, which also strongly focus on women’s awareness about and access to financial services. 13. The world of banking has, in fact, been a mirror of history at large. “Money makes the world go around”, the saying goes.