This ad will auto close in 10 seconds

New private banks to boost financial inclusion: Central Bank

Last Updated: Friday, March 8, 2013 - 21:28

New Delhi: The Reserve Bank move to award new banking licences to corporates will help promote the government's financial inclusion initiative, Central Bank of India said Friday.

"Well I absolutely welcome, because (in) those licences (guidelines), the policies are very clear that those banks will have to equally commit themselves to the priority sector in the financial inclusion," CBI Chairman and Managing Director M V Tanksale said on the sidelines of an event here.

He said the Indian market size is very big and any number of players are welcome.

"The market size is so big in our country that any number of players are welcome. Only thing is that whenever the new players come into the system, the efficiency increases," Tanksale said.

With the advent of private players in the banking sector, efficiency has improved and new technology has been introduced to serve customers better, he added.

"...Probably our efficiency was not as much as it is today. With the advent of the new private sector banks, who came with a technology, who came with the orientation for customer's centricity.

"All the public sector banks had to transform them into the customer centric banks, leveraging technology to improve the services and still the market share remains the same," Tanksale said.

On the Budget 2013-14 proposal to set-up a women's bank, he said it will remove apprehensions women might have had while approaching banks for loan.

"I think this objective that on talking with a woman officer, may be their problems could be better understood. As a lender, if we are not able to understand the problems of our lenders, we cannot give them any solutions. I think it's a very good initiative."

On RBI's next policy review to be unveiled later this month, Tanksale said, "I think its too early to comment.

"I really don't think there are any major changes in the country, thereby the things should be...Its better to hear the Governor and the Finance Minister on the day when it is out."

On the occasion of International Women's Day, the bank today launched a Women Entrepreneur Cell in Mumbai and Cent Kalyani scheme.

The scheme will encourage women to start their own manufacturing /service enterprises, he said.


First Published: Friday, March 8, 2013 - 21:28
comments powered by Disqus