RBI's Joshi: Direct benefit transfers a ‘game changer' but have ‘not progressed smoothly enough'
Executive director says Indian financial inclusion initiative needs banks' help to work
The Reserve Bank of India's (RBI) Direct Benefits Transfer (DBT) programme, launched in 2013 as part of the central bank's financial inclusion agenda, was a "game changer, [but] has not progressed as smoothly as envisioned", said Deepali Pant Joshi, an RBI executive director, in a speech in Mumbai last week.
The programme was designed to transfer state subsidies directly to their recipients. Joshi said the "main priority" was to "streamline the Direct Benefits Transfer programme to work
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