Kochhar emphasizes on the role of existing banks in Fin Inclusion

A few days ago Mr. D Subbarao, the Governor of Reserve Bank of India said that if the bank license seekers have to keep their chances open to get the license then they have to prove their commitment towards Financial Inclusion Plan.

The Managing Director and CEO of ICICI Bank Chanda Kochhar expressed her views about the same and said that apart from the new license seekers existing banks also have a very significant role to play for the implementation of Financial Inclusion Plan.

She said "As far as financial inclusion is concerned, not just the new banks but the existing ones (as well) have an important role to play ... Rural India is going to be the market of tomorrow. Therefore, it is important for us to find business models for the rural population."

About ICICI Bank she said "Last year credit growth was much slower, while this year the incremental credit deposit rate has been much higher, which is an indication that going forward the banks have to keep in mind the fact that right kind of funding is necessary for credit growth."