Banking for all by 2015

A “universal electronic bank account” for every resident Indian above 18 years of age automatically at the time of receiving their Aadhar number by 2015 is what the Committee on Comprehensive Financial Services for Small Business and Low-Income Households, appointed by RBI Governor Raghuram Rajan, has recommended. The individual can indicate the bank he would like to have an account with. The panel was headed by RBI board member Nachiket Mor and included Citigroup CEO Vikram Pundit and Axis Bank CMD Shikha Sharma.