Financial inclusion

It is heartening to note that PSBs are in branch expansion mode, though they have several alternative delivery channels ( Business Line , July 10).

It is reported that PSBs have added 5,000 branches in 2011-12. But the article also reports that 60 per cent of the population is still unbanked. It means that the addition of branches is perhaps only in cities and urban centres. The talk of financial inclusion has not translated into action.

The National Rural Financial Inclusion Plan , launched during the Twelfth Five Year Plan, aims at providing financial services, including credit, to at least 50 per cent of financially excluded households by 2012, through commercial banks and Regional Rural Banks (RRBs).

The remaining households have to be covered by 2015.

L.Rangarajan

Chennai

Mauritius beckons

This refers to “India Inc must invest more in Mauritius” ( Business Line , July 10). It’s a shame that though our country has abundant human capital and infrastructure, we do not make any headway due to political and bureaucratic corruption across government departments, and lack of transparency and accountability in the functioning of the government.

This has resulted in cost overruns of projects, and their being stalled. Most projects and policies are on paper only.

It’s better our Indian enterprises, private, public players, start ventures in Mauritius rather than associate with the Indian political system.

Our universities should expand their base in Mauritius so that their human capital expands.

Vedula Krishna

Visakhapatnam

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