Reserve Bank of India (RBI) Governor D Subbarao, who chaired a meeting of the Central Board of Directors of the RBI here on Thursday, emphasised on opening of additional branches by the commercial banks in the rural areas; credit support to agriculture and allied sectors by the commercial banks; financing of micro, small and medium enterprises (MSMEs); licensing of District Cooperative Credit Banks (DCCBs); and SHG-Bank linkage programmes. Subbarao also reviewed the recovery climate, the progress made in the financial inclusion plan and delivery of assistance under the beneficiaries-oriented programmes through electronic benefit transfer (EBT) mechanism; the organisational aspects of Rural Self Employment Training Institutes (RSETIs) and Financial Literacy and Credit Counselling Centres (FLCCs). The meeting was attended by eight Directors Anil Kakodkar, MV Rajeev Gowda, YH Malegam, Dipankar Gupta, GM Rao, Ela Bhatt, Indira Rajaraman and Najeeb Jung. RBI Deputy Governors KC Chakrabarty, Subir Gokarn, Anand Sinha and Harun R Khan were also present. Subbarao, along with Chief Minister Naveen Patnaik, also graced the RBI Bhubaneswar region’s golden jubilee function held at the RBI Colony here. Speaking on the occasion, Subbarao said the industrialisation drive going on in Odisha is quite encouraging. He, however, stressed the need for development of the backward districts of the State. The Chief Minister urged the bankers to keep extending credits to bail out the people during this crisis time The function came under the shadow of the model code of conduct enforced in the State because of the ongoing Panchayat elections. State Election Commissioner Ajit Kumar Tripathy directed the RBI Governor over phone not to announce anything in view of the model code of conduct being in force. The RBI authorities were also asked to remove the cutouts of Prime Minister Manmohan Singh.
The Pioneer
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