Financial inclusion is a policy priority: Shaktikanta Das

‘Inclusivity bolsters financial stability’

To make the post-pandemic recovery more inclusive and sustainable, financial inclusion would continue to be a policy priority for the RBI, Governor Shaktikanta Das said at The Economic Times Financial Inclusion Summit on Thursday. Considering the role played by microfinance in bridging gaps in the last mile, a consultative document for harmonising regulatory frameworks for various regulated lenders in microfinance had been issued recently, he said. “The primary objective is to address the concerns relating to over-indebtedness of microfinance borrowers; enable market mechanism to rationalise the interest rates; and empower the borrowers to make an informed decision by enhancing transparency of loan pricing,” Mr. Das said.