Bangalore, March 22: The government today said the goal of spreading financial system to the nook and corner has so far remained elusive which if reached would help achieve double digit economic growth rate.
“While the financial sector policies in India have long been driven by the objective of increasing financial penetration and outreach, the goal of universal inclusion has eluded us,” Finance Minister Pranab Mukherjee said at the Reserve Bank-OECD Workshop on Financial Literacy here.
RBI Governor D Subbarao said India can achieve double- digit economic growth if millions of people, who are not covered by financial services, are brought under organised banking system which will raise the overall savings level.
–Agencies