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March 28, 2007 17:35 IST
Banks have approached Reserve Bank of India with a proposal for allowing them to provide doorstep cash delivery services to individual customers.
The apex bank had earlier permitted banks to offer cash delivery services to corporates, government departments and public sector units.
Banks, under the aegis of the Indian Banks' Association, have informed the central bank that such a restriction would not allow majority of the banking population to take advantage of the convenience of the service.
They have also suggested to the RBI that the service could be extended only to select customers like high net worth individuals and individuals with whom the bank has a strong relationship, which would help mitigate risk.
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