Uddhav Thackeray's aggression

Uddhav Thackeray's aggression

From all accounts, Shiv Sena chief Uddhav Thackeray appears an unlikely candidate for a skirmish...
HC rejects PIL against Robert Vadra

HC rejects PIL against Robert Vadra

A PIL had sought CBI probe into various land deals allegedly entered into by Robert Vadra's firms.

Jaitley meets bankers, says financial inclusion to get a push in ‘layers’

Aug 01 2014, 23:54 IST
Comments 0
SummaryFinance minister Arun Jaitley on Thursday said Prime Minister Narendra Modi will launch the government’s campaign for financial inclusion

Finance minister Arun Jaitley on Thursday said Prime Minister Narendra Modi will launch the government’s campaign for financial inclusion to ensure that 7.5 crore households without access to banking have at least two accounts.

Efforts will also be made to introduce mobile banking on all kinds of phones, he said. “The intention is, in a mission mode, to have a formal campaign which will be announced by the Prime Minister. This campaign for inclusion will be at various layers,” Jaitley said, although he did not give a timeline or launch date for such a campaign.

The finance minister’s statement came after a meeting with the heads of all PSU banks.

Elaborating on the “layers”, Jaitley said in some areas where branches are possible, the regular branches will be built.

In places where regular branches won’t be possible, smaller branches manned by one or two people will be built. The layer below that will be kiosks, he said, adding that yet another

layer below, will be ATMs and then banking correspondents for the most remote settlements. “The objective is to reach every household possible and have at least two account holders in every house. At present, financial inclusion and the reach of the banking systems extends to about 58-59%,” he said.

Ads by Google

More from Economy

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...