SLBCs can boost financial inclusion if synergy with govt improves: RBI DG

Reserve Bank Deputy Governor Swaminathan J has said State Level Bankers' Committees (SLBC) can play a more effective role in financial inclusion through better coordination with government and NGOs in credit planning and promoting digital financial literacy.

Observing that the role of SLBCs in fostering inclusive and sustainable growth is crucial and multifaceted, he said, it can drive significant progress in bridging the gap between financial services and the underserved populations.

"By focusing on effective coordination with government and NGOs, adopting a scientific approach to credit planning, and emphasising digital financial literacy, SLBCs can create a more inclusive financial ecosystem," he said at the Conference of Convenors of SLBCs at Pune on June 19.

"As we move forward, it is essential to monitor and measure the tangible outcomes of our efforts, ensuring that the benefits of financial inclusion reach every corner of our country," he said.

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