i nc lu s i ve f i nanc e i nd i a re port 2014
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that banking system alone cannot solve the problem of
exclusion. Also no single programme or strategy is ad-
equate to achieve the large task of financial inclusion.
Multiple methods, tools and institutions are needed for
this. Whereas the recent policies have opened up avenues
for players like MFIs to be part of the mainstream inclu-
sion drive, whole hearted and innovative efforts are yet to
be made to leverage the un-utilised capacities of the vast
network of grass-root level organisations such as rural
cooperative banks, PACS and post offices. An ‘inclusive’
financial inclusion policy integrating the diverse institu-
tional resources and operational models—old and new,
pro market and community centric—would go a long
way in ending ‘financial untouchability’ in India.
NOTES
1. ‘Poverty definition immaterial for financial services: Raghuram
Rajan’. Available at at:
TiZ0gyvvqNpCAXnqlffy9K/Poverty-definition-immaterial-
for-financial-services-Rajan.html?utm_source=copy
2. Speech at FIBAC, an annual banking event organized by the
Federation of Indian Chambers of Commerce and Industry
and the Indian Banks Association, 15 September 2014.
REFERENCE
Ram Mohan, T.T. (2014), ‘Mor Report on Financial Inclusion:
Some Key Issues’,
Round Table on Nachiket Mor Committee
Report
, Centre for Advanced Financial Research and Learning
(CAFRAL), 4 February, Mumbai.
