Posted on September 24, 2009 - by boris

RBI Boss contests Karnataka’s claims on 100% Financial Inclusion…

Contesting Karnataka’s claims on 100% financial inclusion (FI)  in the state, Reserve Bank of India Governor D Subbarao banks have to cover a lot of ground for achieving full inclusion.

Dr Subbarao, who flagged off a pilot project on financial literacy at Doddaballavanagala village in Doddaballapur taluk of Bangalore Rural district on Tuesday, said Karnataka government has claimed to have achieved 100% FI on May 14, 2009. “But that may not be accurate at the ground level. We do our own evaluation and found that the state has not achieved 100% FI,’’ he said.

RBI officials, banks, regional rural banks (RRBs) and the government would go to villages not only to disseminate information on banking schemes but also to get experience of the people who benefited from schemes.

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Source: http://www.daijiworld.com/news/news_disp.asp?n_id=66015