PRIVATE BANKS LAX ON FINANCIAL INCLUSION MAY LOSE GOVT. BIZ

The Government has recommended to RBI to de-panel the Private Sector Banks, which have been failing to carry out the financial inclusion mandate, from government businesses and projects such as the Corporate Affairs Ministry's MCA-21. A Parliamentary Standing Committee had also suggested that private banks not active in social initiatives should be dis-incentivised.


The stand was taken by the Govt. as Private banks' performance on disbursing Govt. Employees' pension and financial inclusion was dismal.


Source: http://www.thehindubusinessline.com/2010/02/04/stories/2010020451230600.htm