Banks need to move from a cost centric model to a revenue generating model by offering a bouquet of deposit, credit and other products and services The products and services should be designed in such a way that it suits the needs of people in unbanked rural areas. Suite of products linked to the scheme of poor borrowers need to be innovated.
I would be extremely happy if the suppliers /vendors could reflect on our concerns and develop some practical solutions to our problems. However, before I get into the specific issues, let me begin with a brief perspective on various dimensions of the Indian currency system and the issues and challenges that we face in our currency management efforts.