Reserve Bank of India (RBI) said that banks would be asked to come up with their specific board-approved plans for financial inclusion by March 2020.
Dr. D. Subba Rao, Governor, Reserve Bank of India, said that RBI's approach to financial inclusion aims at connecting people with the banking system and not just opening banks accounts. He has also said that economic access was strongly intertwined with financial access and such access was especially powerful for the poor as it provides them opportunities to build savings, make investments and avail credit.
Source: http://www.blonnet.com/2009/12/10/stories/2009121051520600.htm
RBI TO ASK BANKS TO OUTLINTE FINANCIAL INCLUSION PLANS BY MARCH
Labels: BANKING N FINANCE
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