Amid slow progress in bringing the entire population under the banking network, the Reserve Bank of India (RBI), on Thursday, announced the setting up of a high-level committee to “spearhead” efforts to ensure accessible financial services.
The RBI Deputy Governor K. C. Chakrabarty -led Financial Inclusion Advisory Committee (FIAC) is expected to ensure that financial inclusion and financial stability move in tandem, the RBI said in a statement.
“This calls for a partnership of all the stakeholders,” it said. The stakeholders include RBI, SEBI, Insurance Regulatory and Development Authority, Pension Fund Regulatory and Development Authority , National Bank for Agriculture and Rural Development, and NGOs, the central bank said.
The members include, Y. H. Malegam, Dipankar Gupta, Ela Ramesh Bhatt and D. K. Mittal besides members of the Central Board of Directors of RBI.
Nachiket Mor, M. S. Sriram, R. S. Sharma, B. Sambamurthy, Rama Vedashree, P. D. K. Rao and K. R. Kamath, are the other members.
