September 8, 2010 1:52 PM

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The Reserve Bank today said deregulation of interest rates on savings accounts is on its radar and it will soon be examining the possibility of implementing the same.Addressing a banking conference organised by FICCI and IBA in Mumbai, Reserve Bank's Deputy Governor, Usha Thorat said, a working group will soon be set up to examine the possibility of deregulating interest rates. RBI has to examine whether the de-regulation can help bring more people into the formal banking system.The senior RBI official also said that to achieve the goal of financial inclusion, there is a need for a higher number of tie-ups between banks and the non-bank finance companies which have better delivery systems to ensure better last mile connectivity.

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