Jan Dhan is a good scheme, target should not be speed: Raghuram Rajan

September 15, 2014 11:18

RBI governor Raghuram Rajan's state of the nation presser. Rajan says it is time the govt de-regulated diesel prices in the wake of falling global crude oil prices. Falling inflation is consistent with the RBI forecast and Rajan says a dip in IIP shows recovery is still uneven.

The RBI governor on the PM's recently launched Jan Dhan scheme: "Jan Dhan is a good scheme; its target should be universal reach and not speed and numbers, said Rajan.

Recent scandals call for better internal evaluation of lending process; banking must become more engaged and informed. He also reiterated the call for more operational freedom to state-run banks.

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