Provide banking facilities in each village: RBI to banks

Barabanki: Reserve Bank of India (RBI) Governor D Subbarao on Wednesday asked banks to meet the target of providing banking facilities to small towns soon. "It is unfortunate that 90 per cent villages of the country do not have banking facilities. The target of RBI is to ensure that every family has a bank account," Subbarao said while addressing a programme here.

He said that there are six lakh villages in the country, of them one lakh are in Uttar Pradesh. "I urge all the banks to soon fulfill target of providing banking facilities there," he added.

Accepting that inflation had increased in past few years, the RBI Governor said that though they had somewhat succeeded in containing it in past two years, it is still there. "It is our priority to check price-rise and will remain so", he said.

The target is to ensure that every family has a bank account, said RBI Governor D Subbarao.

On inflow of fake Indian currency notes in the market, Subbarao said that some criminal and anti-social elements were involved in it (circulations of fake notes) and RBI was doing whatever is possible to check its inflow.

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