Finance Minister P. Chidambaram today asked banks to reach out to the poor, be sensitive to their needs and extend them loans for their livelihood and prosperity. Releasing the Social Audit report of a private micro finance company in New Delhi today, Finance Minister also asked the corporate sector to fulfill social responsibility by supplementing government efforts to serve the poor and low income groups. Mr. Chidambaram said, helping the poor should be part of business plan and corporate social responsibility of all enterprises.

Finance minister said, the vast majority of the country do not have banking facilities and the micro finance sector is doing commendable service as they provide some kind of financial product to the poor. Chidambaram said, the poor in country needs to be helped as banking facilities do not reach every nook and corner of the country. He said, the poor and low income group people have to be saved from having to borrow at high interest rates from money lenders, by expanding banking operations. Reiterating that the UPA government emphasizes on financial inclusion, Chidambaram said big banks should realise that the poor and small borrowers are highly dependable, honest and have an excellant track record of loan repayment.

The finance minister emphasised that business and corporate social responsibility cannot be de linked from each other. He urged successful business men, groups and organisations to devote part of their time and energy to reach out to providing relief to the poor in the country.