The document discusses RBI's recent initiatives to promote inclusive and differentiated banking in India, including small banks and payments banks. Small banks can accept deposits and lend, but will focus on small farmers and unorganized sectors within a defined local area. Payments banks aim to facilitate savings accounts and payments/remittance services for low-income groups. Eligible promoters include existing non-banking companies and telecom firms. Both small and payments banks are subject to capital requirements and regulations on activities. The goal is to increase access to basic banking services in underserved areas through localized and technologically-driven operations.