Joint efforts necessary for financial inclusion: KM Mani

KOCHI: Comprehensive financial inclusion can be achieved through a joint effort of the government and banks, Kerala Finance Minister KM Mani has said.

Conferring the Lifetime Achievement Award of the State Forum of Bankers' Clubs to former RBI Deputy Governor V Leeladhar here yesterday, he exhorted Bankers' clubs to spread awareness among the masses about services rendered by banks.

Leeladhar said RBI succeeded in insulating Indian banks from the subprime crisis that engulfed US financial institutions during 2008-09, by directing the banks, in advance, to increase the risk rate of home loans.

"We have the best of the people in public sector banks, but need little more motivation to them," he added.

State Bank of Travancore Managing Director Jeevandas Narayan, South Indian Bank Managing Director Dr V A Joseph, Kerala Gramin Bank Chairman K V Shaji and State Forum of Bankers' Clubs President Abraham Thariyan were also present at the occasion.