In its guidelines for licensing of payments banks, the Reserve Bank of India (RBI) said the move is intended to "further financial inclusion", which is among the top priorities of Narendra Modi government. The government has set a target to open 100 million new accounts under Pradhan Mantri Jan Dhan Yojana by 26th January 2015. The scheme was launched on 28th August 2014.
Mainline media reports are rife with stories on Digital India being a half-baked plan and a waste of taxpayer money. Considering that the first version of India's National e-Governance Plan (2004), and its re-incarnation, by the Kapil SIbal-led Ministry of Communications & IT