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Financial inclusion to get more focus: RBI governor
Published on 18 May. 2011 10:22 PM IST
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Financial inclusion covering most Indians, fiscal literacy and priority sector lending are at the core of the Reserve Bank of India’s mandate, its governor D. Subbarao said here Wednesday.
After inaugurating the RBI’s sub-office in Tripura capital, Subbarao said : “Mainstream banking services in any forms would be provided to all unbanked semi-urban, rural and remote areas having population of 2,000.”
Subbarao stressed that banks are yet to view financial inclusion as an opportunity and it would increase the asset liability of the financial institutions.
“Financial inclusion is good for both banks and governments at it would check inflation.”
He said that the RBI’s battle against inflation would further be intensified, and asked the banks to develop their own business models to achieve financial inclusion.
“We know that the NE region has different set of challenges and require different set of solutions. RBI and banks alone could not deal with these challenges, there must a collective approach by all concerned”, he said.

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