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Today’s Economic Times carries this story about an unexpectedly large change that is sweeping across the Bank-BC model. The Department of Financial Services, the part of the Finance Ministry which looks after the banking sector, has decided to split the country into 20 clusters and get all public sector banks in that region to work through a common Banking Correspondent company. This radical makeover of the sector is making a bunch of people, including banks, very nervous. They fear this could result in the rise of monopolistic tendencies amongst BC companies. Click here to read more.