Finance Minister Arun jaitley has stressed on financial inclusion of rural population through banking sector.

He said banking sector covers around 58 percent population while 42 percent is still out of its reach.

Inaugurating the 5111th Branch of Canara Bank in New Delhi today, he said Government would recapitalize Public Sector Banks with predominant Government equity within four to five years to enable banks to expand the whole process of financial inclusion.

He also said that banks in India are source of employment, revenue generation, infrastructure development and poverty alleviation.