Freeing hapless villagers from the clutches of usurers is among the main objectives of the financial inclusion related activities of the Reserve Bank of India (RBI), said Executive Director, RBI, G. Padmanabhan on Friday.
He was participating as the chief guest at an outreach programme organised by the RBI at Kunjapanai in Kotagiri block.
Underscoring the importance of financial inclusion, he said that usury should be wiped out.
Students should come under the wings of banks and enjoy benefits such as financial assistance for pursuing studies.
Cautioning people to be wary of messages relating to financial windfalls conveyed through cell phones, he said that no one would shell out money without any reason.
Adverting to the ultra small branch of the Canara Bank functioning at Kunjapanai, he said that if people extended their cooperation it could be converted into a full fledged branch.
Executive Director, Canara Bank, Archana S. Bhargava said that the bank was extending assistance in many forms to the residents of Kunjapani, most of whom were tribal people. She announced that as part of the CSR activities of the bank, a sum of Rs. 3 lakh would be given to the Kunjapanai panchayat.
She appealed to the villagers to stay away from money lenders. Executive Director, Indian Overseas Bank, A.K. Bansal said that special training programmes would be organised for the residents of Kunjapanai at the Rural Self Employment Training Institute of the IOB at Kotagiri.
District Revenue Officer L. Nirmalraj appreciated the efforts of the RBI and the Canara Bank and added that the latter was playing a progressive role in the development activities of the district. Regional Director, RBI, N.S. Vishwanathan urged the students to carry forward the national outreach programme of the bank.
A coin and note exchange mela and distribution of benefits formed part of the programme.