New Delhi, Aug. 30 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra said on Saturday that India is on its way to become the third largest economy in the world soon.

"Today, India is counted among the five most developed countries in the world and very soon the country will become the third largest economy," RBI Governor Sanjay Malhotra said.

He was addressing a government banks' financial inclusion campaign "Santripti Shivir" at Rangwasa village in Indore when he made the remarks.

RBI Governor Sanjay Malhotra credited the Pradhan Mantri Jan Dhan Yojana for boosting India's growth and said that the central government and the RBI had launched the Jan Dhan Yojana in collaboration with banks 11 years ago.

This has led to developmen...