Posts Tagged ‘IT’

Microfinance Focus, Sept. 1, 2009: Achieving 9 per cent growth rate is possible when millions of people at the bottom of the pyramid are brought into the banking network, said Dr K.C. Chakrabarty, Deputy Governor, Reserve Bank of India, in New Delhi at the 62nd International Banking Summer School (IBSS) jointly organized by the Indian Institute of Banking and Finance and Indian Banks’ Association on Monday. This is possible when financial products being offered by banks reach this segment and to achieve this, integration of IT with microfinance or small rural or urban banking sector is an essential step to achieve the ultimate goal of financial inclusion, he said. Full story

MicrofinanceFocus, July 21, 2009: The Reserve Bank of India has urged big IT firms to involve more in the cause of financial inclusion, which is a major challenge before the nation. Speaking to ET at a seminar on financial inclusion organised by consultancy firm Skoch in Mumbai last week, K. C. Chakrabarty, Deputy governor of RBI, said: “The scale of business in financial inclusion is so big that we need participation from big IT companies.” Mr Chakrabarty also said that the RBI will come out with more guidelines for the sector in a month's time. Full story