Lower barriers to make banking accessible: RBI chief tells bankers

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The Reserve Bank of India (RBI) governor D Subbarao, at a special State Level Bankers' Committee meeting on August 7, 2013, said that that people generally found banking to be beyond their reach and asked the bankers to lower those barriers to promote financial inclusion in the country.

"People generally found banking to be beyond their reach. Banks should, therefore, consciously endeavour to lower the barriers to make banking accessible to them," said Subbarao in a statement.

RBI also asked the state government officials to be aware of those entities conducting unauthorized financial business with people falling prey to their promises of high returns and then the entities vanishing with hard earned monies.

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Story first published: Thursday, August 8, 2013, 22:30 [IST]
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