Karnataka poised to achieve 100% financial inclusion

Karnataka will soon become the second state in the country to achieve 100 per cent financial inclusion, by September 2007. Kerala was the first state in the country to achieve the target by June-end this year. Financial inclusion means the delivery of banking facilities or services to all people in a fair, transparent and equitable manner at affordable cost. Financial inclusion has the potential to improve the financial condition and standards of life of the poor and the disadvantaged. In Karnataka, Gulbarga was the first district to achieve 100 per cent financial inclusion, on December 31, 2006. Based on the experience gained in Gulbarga, a uniform strategy was adopted for achieving a 100 per cent financial inclusion in rest of the state. Accordingly, as of April-end nine other districts achieved the target of 100 per cent financial inclusion through their lead banks.