...........Current RBI instructions on financial inclusion plans don't cover group-based lending models such as joint liability groups (JLGs) and SHGs, although these approaches have helped the unbanked connect with banks. Why is a client segment that avails of two or three basic services from the bank out of the ambit of financial inclusion? Finally, the banker's attitude needs to change from sheer target-chasing to facilitating the poor's entry into the formal financial system. Banks, RBI and the government need to send the right message and remove barriers to enable greater participation of the poor in the formal banking system for their economic good. .....
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