March 17, 2010 1:42 PM

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Govt. considering to infuse capital in public sector banks

Government is considering to infuse capital of around 16,500 crore rupees in the public sector banks by the end of next month. Speaking at National Microfinance Conference in New Delhi today, Finance Secretary Mr. R Gopalan asked Microfinance Institutions to rationalize the lending process in order to strengthen the hands of those who are still lagging behind in the prosperity chart. He urged banking fraternity to ensure credit flow to underprivileged sections of the country for inclusive growth. Talking about financial inclusion Mr. Gopalan said a model is in place through which multiple financial services can be routed to the poor and called for expanding it. The two-day conference being attended by experts and other stakeholders will prepare a roadmap for better microfinance to give it further momentum. Union Ministers Mr. Salman Khusrhid, Mr. Kanti Lal Bhuria, Minister of State Mr. Jyotiraditya Scindia, Deputy Chairman of Planning Commission Montek Singh Ahluwalia and Chairman of Unique Identification Authority Nandan Nilekani will address the concluding session of the conference on Thursday.

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