Consider inclusion as opportunity: RBI Dy Guv to banks

Deputy Governor of Reserve Bank of India Subir Gokarn advised the banks on Saturday to see the Financial Inclusion activities as an opportunity for them and not as mere obligation. He added that delivery of financial services to the masses is a critical challenge for the banks and RBI. Speaking at the Indian Chamber of Commerce (ICC)-organised summit here on Banking and Capital markets Gokarn said that sustainable growth, which alone can ensure improved quality of life, needs low inflation rate. He also shed light on challenges facing the country in human capital, balanced nutrition, infrastructural shortcomings and global integration.  State Bank of India Chief General Manager Praveen Kumar Gupta said that the key to double digit growth , which was the topic of the seminar , can happen only when growth is inclusive, environment friendly, non exploitive and generator of employment. Commenting upon the raging debate in the country on inflation vis-à-vis growth he predicted that on base line effect alone inflation would be down to low levels by the end of the current month. Chairman of Bhubaneswar Stock Exchange Vivekananda Pattanayak gave a brief description of the evolution of the capital markets and said regional stock exchanges have not become irrelevant and have a lot of role to play in spreading financial awareness. While giving the welcome address President of ICC Shrivardhan Goenka highlighted the brief history of ICC. The Director General of ICC Dr Rajiv Singh delivered the vote of thanks. 

The Pioneer