DFIs were given the option to transform into a bank. The operational guidelines for enabling a DFI to convert to a universal bank were issued in 2001. •  Is it necessary now to review our commitment to universal banking? Should we go in for differentiated licensing?
Differentiated licensing •  In October 2007, Reserve Bank prepared a Discussion Paper on Differentiated Bank Licensing which said that the case for differentiated licensing will be reviewed after a certain degree of success in financial inclusion is achieved and the Reserve Bank is satisfied with the quality and robustness of the risk management systems of the entire banking sector.