Date:04/12/2006 URL: http://www.thehindubusinessline.com/2006/12/04/stories/2006120400200801.htm

Back Financial inclusion

This is with reference to "Financial inclusion and inclusive development," (Business Line, December 1).

It is distressing that only 30 per cent of the rural people have a bank account and that they get only 9.2 per cent of the total credit lent by scheduled commercial banks.

It is a matter of concern that 46 per cent of the farmers' loans are advanced from the unorganised sector.

The statistics go to prove that the banking sector has not had a significant impact on Rural India. What is needed is a friendly and helpful attitude towards the rural masses.

The Reserve Bank of India should set a stipulated level on the number of accounts to be opened and the credit to be extended to the rural people on the basis of population of the given area.

S. Nallasivan

Tirunelveli

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