Other members of the committee were:[2] S. Karuppasamy and Deepali Pant Joshi, both executive directors of RBI were observers.
The banks would primarily issue loans and would be allowed only to accept deposits larger than INR 5 Crore(₹50,000,000).
[4] The panel proposed that every adult Indian be granted a Universal Electronic Bank Account (UEBA) by January 2016.
It also proposed that an UEBA be automatically opened for every citizen at the amount he/she receives their Aadhaar number.
[4] M. S. Sriram of Centre for Public Policy said that report failed to address the last-mile delivery problems.