Nachiketa Mor Committee

The Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households (Chairperson: Dr.NachiketMor) submitted its final report on December 31, 2013.The Reserve Bank of India (RBI), on September 23, 2013, had appointed the Committee to propose measures for achieving financial inclusion and increased access to financial services.

The Committee proposed the following to be achieved by January 1, 2016

• Provide each Indian resident above the age of 18 with an individual, full-service electronic bank account.
• Set up widely distributed Electronic Payment Access Points offering deposit and withdrawal facilities at reasonable cost.
• Provide each low-income household convenient access to formally regulated providers ....