President for more financial inclusion to RBI

President Pratibha Devi Singh Patil, while releasing the Commemorative Postage Stamp at the Platinum Jubilee Celebrations of the Reserve Bank of India (RBI), said that the Apex Bank should take more steps for further financial inclusion.

The President's comments came in the midst of apprehensions by lenders that their NPAs may raise during the period ahead.

Asking the banks for strengthening their financial position, Mrs. Patil said that financially healthy banking system is indispensable for supporting vibrant and inclusive economy of the nation. She also commended the role played by RBI through its visionary policies for Indian to record new heights of growth.

Urging lenders to tap untouched areas, the President expressed, “The banking system in the country has grown considerably, but even now the challenge is to reach the unbanked areas, particularly in the rural. I am confident that the Reserve Bank of India will provide appropriate policies and framework to achieve this objective.”

Speaking on the occasion, Finance Minister, Pranab Mukherjee also hailed RBI for saving India undergoing any financial mess in the wake of recent global financial crisis.