This refers to ‘Banking on reform’ (IE, January 15) by Rudra Sensarma. The new banking act is expected to deter small players from entering the banking sector. We should be ready to bear this small cost if the benefits of financial inclusion are to be reaped. Moreover, it is not that the government is abdicating its responsibility by delegating the task of financial inclusion to the RBI. Everybody has a role to play in encouraging growth and the government alone should not be the agent of welfare. It is for the same reason that private entities are increasingly expected to uphold the value of corporate social responsibility.
— Shashi Kant, Mumbai (IE)
No comments:
Post a Comment