A high level committee set up by the Reserve Bank of India (RBI) has recommended that a sub-committee of the District Consultative Committee (DCC) of banks -- under the Lead Bank Scheme -- would draw up a road map to provide banking services, in any form, to every village with a population of over 2,000, at least once a week on a regular basis by March 2011.

It has also suggested that the lead district manager of banks may convene a quarterly public meeting at various locations in the district where the RBI and banks having presence in the area, and other stakeholders are present to generate awareness of the various banking policies and regulations relating to the common person.

The high level committee headed by RBI Deputy Governor Usha Thorat was set up by the RBI to improve the effectiveness of the Lead Bank Scheme with a focus on financial inclusion and recent developments in the banking sector.

The sub-committee of the DCC may provide services through a banking outlet, in any form, such as, brick and mortar branch, mobile banking, extension counters, satellite offices or business correspondents.

State governments were asked to ensure road and digital connectivity to all centres where penetration by the formal banking system is required, expedite use of IT solutions for disbursal of National Rural Employment Guarantee Scheme and social security payments and extend support to banks in the recovery of their dues.

The committee suggested implementation of the revised priority sector monitoring and information system on a pilot basis in one or two States initially and thereafter extending to the rest of the country with effect from April 1, 2010.

Keywords: banking servicesRBIvillage2010DCC

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