RBI to come out with payment bank shortly: Khan

RBI-appointed committee had proposed formation of payment banks

The Reserve Bank of India will come out with a payment bank soon, Deputy Governor H R Khan said on Thursday.

A committee appointed by the RBI had proposed the formation of payment banks to widen the spread of payment services and deposit products to small businesses and poor households in a country where about half of the households are outside the banking system.

Khan was speaking at a banking event in the city.