Use of Technology – Recognising that technology has the potential to address the issues of outreach and credit delivery in rural and remote areas, in a viable manner, commercial banks were advised to implement CBS so as to enable them to make effective use of ICT, to provide door step banking services through Business Correspondents Model wherein the accounts can be operated by even illiterate customers by using biometrics, thus, ensuring the security of transactions and enhancing the confidence in the banking system.
RRBs, having proximity to rural area, have the inherent strength to scale financial inclusion, have also been roped in by bringing them to CBS platform. A robust payment system is an essential adjunct of Financial Inclusion this is an extremely important area. IV.