SLBCs can play effective role in financial inclusion by better coordination with govt, NGOs: RBI DG
financial inclusion through better coordination with government and NGOs in credit planning and promoting digital financial literacy. Observing that the role of SLBCs in fostering inclusive and sustainable growth is crucial and multifaceted, he said, it can drive significant progress in bridging the gap between financial services and the underserved populations.
«By focusing on effective coordination with government and NGOs, adopting a scientific approach to credit planning, and emphasising digital financial literacy, SLBCs can create a more inclusive financial ecosystem,» he said at the Conference of Convenors of SLBCs at Pune on June 19.
«As we move forward, it is essential to monitor and measure the tangible outcomes of our efforts, ensuring that the benefits of financial inclusion reach every corner of our country,» he said.
By tailoring initiatives to local conditions and needs, and by fostering a culture of financial literacy, he said there is a need to empower individuals to actively participate in the formal economy, thereby contributing to the broader goal of inclusive and sustainable economic development that is essential for a Viksit Bharat 2047.
«I urge all stakeholders to continue working collaboratively, leveraging the strengths of each sector, and harnessing the power of technology to create a financially inclusive society,» he said.
As part of aspirational goals for RBI's centenary, referred to as RBI@100, he said, among these targets are deepening financial inclusion and expanding credit
