The Reserve Bank of India (RBI) has said that the implementation of the financial inclusion plan (FIP) 2010-13 has led to the establishment of banking outlets in more than two lakh villages.
The RBI’s monetary policy statement for 2013-14 said that the banks have been advised to draw up the next FIP for 2013-16 to take financial inclusion to the next stage of providing universal coverage and facilitating electronic benefit transfer.
The FIPs submitted by banks will be discussed in detail with the RBI. The monetary policy said that the banks are advised to disaggregate the FIPs to the controlling office and branch level.
vinayak.aj@thehindu.co.in