Poor are waiting to get on board

Enumerating the importance of financial inclusion Rangaranjan said: 8220; Access to finance by the poor and vulnerable groups is a pre-requisite for poverty reduction and social cohesion. In fact, providing access to finance is a form of empowerment of the vulnerable groups8221;.

Suggesting solution to the problem of credit outreach, Rangarajan said: 8220;A critical factor required for providing credit to marginal and sub-marginal farmers as well as other small borrowers is the empathy of the bank officers. Rural lending requires a specific type of organisational ethos, culture and attitude. Rural branches of banks have to be farmer-friendly.8221;

8220;The role of a banker could also incorporate advice on a wide variety of matters relating to agriculture. More branches, more self-help group linkages and more intermediaries may also emerge as possible solutions,8221; he added.