Business Daily from THE HINDU group of publications
Tuesday, Jun 27, 2006

Cross Currency

Group Sites

Industry & Economy - Economy

Govt forms panel on `financial inclusion'

Our Bureau

New Delhi , June 26

The Government has constituted a 10-member committee under the chairmanship of Dr C. Rangarajan, Chairman of the Prime Minister's Economic Advisory Council, to prepare a strategy of `financial inclusion.'

The committee has been asked to submit its report by November 30, 2006.

An official release said that the committee would study the pattern of exclusion from access to financial services disaggregated by region, gender and occupational structure. It would also identify the barriers confronted by vulnerable groups in accessing credit and financial services, including supply demand and institutional constraints.

The terms of reference of the committee includes review of the international experience in implementing policies for financial inclusion and examining their relevance/applicability to India.

The Committee has also been asked to suggest strategy to extend financial services to small and marginal farmers and other vulnerable groups, including measures to streamline and simplify procedures, reduce transaction costs and make the operations transparent.

Moreover, the committee has been asked to suggest measures including institutional changes to be undertaken by the financial sector to implement the proposed strategy of financial inclusion. It would also be required to provide a monitoring mechanism to assess the quality and quantum of financial inclusion including indicators for assessing progress.

The members of the committee are Mr Vinod Rai, Special Secretary, Ministry of Finance, Dr (Ms) Rohini Nayyar, Advisor, Rural Development, Mr M.B.N. Rao, Chairman and Managing Director, Canara Bank, Mr Yogesh Agarwal, Managing Director, State Bank of Patiala, Prof. Mahinder Dev, Director, Centre for Economic and Social Studies, Hyderabad, Mr Vijay Mahajan, CEO, BASIX, Mr R. Gopalkrishnan, Executive Director, Tata Sons, Mr A.P. Fernandes, Director, MYRADA and Dr Y.S.P. Thorat, Chairman, Nabard.

More Stories on : Economy | Financial Services

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Economy to grow at 8 pc: CII

Govt forms panel on `financial inclusion'
Anti-radiation products from Cogent EMR
Incidence of heart disease, diabetes on the rise in Kerala
Anti-drugs march
Health cover for SBM account holders
TN CM dedicates 683-km-long petroproduct pipeline to nation
OIDB puts on hold plan to offer working capital loans
Energy audit key to earn wealth through CDM projects
NRL finalises report for expansion
Steel prices will stabilise, say experts
GST can be introduced in 2010: Lahiri
Shipping cos' hearing posted for July 3
Maharashtra keen to train farmers in wine-making
Zee Turner switches off OCN channels
Schools to have veg gardens in Kerala
`Need for courses in geophysics, petroleum engineering'
GoM to study AP school education system
Volvo to increase sourcing from India by 40 pc
BoI loan scheme for goldsmiths
Eye care centre in Bhubaneshwar
SEBI unveils norms for real estate MFs
Ansal to invest Rs 2,000 cr in residential townships
MoU for residential township
AEPC to set up 4 training institutes
Time for re-assessment of crop bio-technology
Inox to acquire `89 Cinemas'
Kamal Nath to attend WTO mini ministerial
`Banking, infrastructure top job-providers'
Personality development meet
ICAI suggests changes in fringe benefit tax
Coonoor tea prices rise on export support

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line