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Financial inclusion is an opportunity not obligation: Subbarao

Last Updated 06 December 2010, 16:29 IST

Inaugurating a Financial inclusion resource centre here, he urged commercial banks to also open such centres which could act as a hub of all information on financial inclusion.

"Though we are doing our bit by opening our own FIRCs, it is not enough", he said calling on commercial banks to follow suit.

Underscoring the need for state-run banks to expedite opening of such resource centres, he said that the financial process in some regions was slow. Banks should appoint 200,000 business correspondents and set up customer service centres in the next 30 months, he opined.

"In addition, state-run banks should open at least 4,000 branches in unbanked villages and 100 million no-frill accounts by 2012-13," he said.

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(Published 06 December 2010, 16:29 IST)

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