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Anti-poverty campaigners can admire their efforts to offer banking services to the illiterate.
Foreign-exchange controls were largely dismantled.However, banks are still forbidden to underwrite shares; securities firms cannot offer banking services.
An ILC licence would allow the mighty retailer to offer banking services along with its cheap lawnmowers, DVD players and groceries.
Others, including ING, of the Netherlands, and Allianz, of Germany, have gone further and offer banking too.Insurers are also tied to financial markets in other ways.
Professor Sheldon Garon studies postal savings banks, which offer banking services at the post office for working people in financially underserved areas.
Many foreign banks have opened offices in China, but so far they have been allowed to offer banking services only to multinational corporations with operations here.
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In reality, it was an offer banks could not refuse.
Permit-trading systems offer banks a potentially vast new business.
That may not offer bank shareholders much comfort.
The new rules offer banks two main methods for assessing their capital adequacy.
Such accounts may offer banks only modest revenue, but that is still better than none.
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