The Reserve Bank of India (RBI) has no problem in allowing the territorial government to repay its high interest loans by borrowing now when the rates are lower, Duvvuri Subbarao, the apex bank’s governor, said here on Thursday.
Addressing mediapersons after the central bank’s board meeting and a special meeting of the State Level Bankers Committee (SLBC) here, Subbarao added that the government would first have to get a go-ahead from the Minister of Home Affairs.
The RBI governor also announced a convention to be held here this month where around 400 students, their parents and administrators of various educational institutions would interact with banking officials regarding queries on educational loans.
After the interaction, the SLBC would come up with a plan of action to increase the flow of educational loans in Puducherry, he added.
Further, Subbarao requested the government to take up the challenge of making Puducherry the first among all states and Union Territories to effectively implement financial inclusion.
Though it is claimed that Puducherry has achieved financial inclusion even at villages with a population of less than 2000 people, some accounts exist on paper only, the RBI governor said.
The comfort zone for beneficiaries of schemes will have to be expanded, he added. Subbarao also raised concerns about electronic payment of taxes in the UT. Out of seven banks, the facility exists only in four banks, while the other banks were working towards it, he said.
Comments
0 comment