Revisit inclusion
Apropos of the column ?Reorienting financial inclusion? (FE, April 3), the RBI Governor is right to advocate that there must be formal intermediation for strengthening financial inclusion and to go for micro-finance by bringing out the rural savings though small and to cater the need for finance of the rural people who come under the inclusion net. Of course, there is a large gap between the banks and the people with potential to seek financial inclusion. Just because of making villagers to have an access to a bank account inclusion wouldn?t be completed. A micro study on the income and savings of the account holder must be made to stimulate him to deposit savings and to seek small finance from banks to augment his earning capacity in small business ventures. Banks must employ the people of the soil rather than to seek NGOs to disseminate the message of inclusion with materialistic support of catering the credit need. Especially villagers engaged in urban employment are the target who could better propagate the inclusion message to other villagers in the right perspective. Rajan must think on this strategy to make inclusion fruitful.
NR Nagarajan
Sivakasi