India's central bank has put the country's lumbering state-backed financial institutions on notice. The Reserve Bank of India has authorized 11 companies to launch so-called payments banks, in a move that is likely to shake up the country's banking sector. Payments banks, according to official regulations, can only accept deposits up to 100,000 rupees ($1,530). They aren't allowed to issue credit cards, or grant loans, and are required to primarily invest their deposits in government bonds. http://money.cnn.com/2015/08/20/news/economy/india-banking-m...