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Journalism of Courage
Co-operative banks can play a more proactive role than scheduled commercial banks (SCBs) in achieving financial inclusion,a senior RBI official said.
“Role of co-operative banks is very important in the real last-mile financial inclusion. They can play a greater role than scheduled commercial banks in achieving the goals of financial inclusion,” Reserve Bank’s General Manager (Urban Co-operative Banks Department),Uma Shankar,said at a seminar.
“You (co-operative banks) people are playing a larger role for the grassroot community and you know better how we can achieve the goals of financial inclusion,” Shankar said.
“Your (co-operative banks) support is required so as to help people participate actively in the financial inclusion programme,” she said.
She advised co-operative banks to use advanced technology and recruit more efficient people to compete with commercial banks.
“You need to use advanced technology for competing with commercial banks,” she said.
