This refers to “Banks not inclusive enough” (Business Line, October 3). It is a well-known fact that the banking sector is almost entirely functional in the semi-urban and urban areas and is non-existent in the rural areas. Banking service can be inclusive only if the entire population has access to it. The RBI’s policy of granting licences to commercial corporations would be a welcome step, provided the new banks provide rural service and cater to the vulnerable section of society. In terms of rural service, India Post can do effective and inclusive service to the rural population as it has a wide operational network, especially in the rural areas.
T. R. Anandan (HBL)
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