ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Financial Inclusion in a Deregulated Regime

The RBI's avowed objective has been to progressively deregulate the financial system to allow it to operate in an environment of competition and efficiency. But, the system cannot be oblivious of its broader role in furthering the process of economic and social development. After a series of farmers' suicides, the main causes of which are found to be indebtedness, all banks are being urged to adopt "financial inclusion" as an operational policy. Banks, it seems, have failed to grasp the challenges of fulfilling their developmental responsibility and this has tended to question the tenability of financial sector reforms without adequate checks and balances.

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