Here's bankers' take on financial inclusion

With Narendra Modi government's focus on banking for all, with the launch of the Jan Dhan Yojana, financial inclusion is indeed on top of the mind of bankers across the country. CNBC-TV18s Surabhi Upadhyay and Radhika Dave talk to bankers and policy makers to find out what this new government initiative means for them. Financial inclusion or bringing the unbanked into the banking world has been an ongoing effort in our country. The recent steps outlined by the government to unveil the ambitious Jan Dhan Yojana scheme that envisages two bank accounts for every household will indeed transform the economic profiles of millions of 'unbanked' people in the country. So, is financial inclusion, a cost or an opportunity? Arun Tiwari, CMD, Union Bank of India, said, "It is a vast opportunity, and the way it has been rolled out with army like preparation, end to end, I definitely see that there are results. For us, it's a long term investment. Indeed, this move will bring another 15 crore people into the banking stream. Thus, by taking this step, the current government in a single stroke has taken a giant leap in making inclusive growth a reality. Financial inclusion programme will go down as a watershed moment in India's journey to financial independence.KC Chakrabarty Former Deputy Governor, RBI, said, "Our job is that 30 percent has got, how to make to 50 percent, how to make it 70 percent, how to make it 100 percent. Well, the next few years hold out great promises for the financial independence of a large population of Indian citizens.With 5 crore accounts already opened since the launch of the 'Jan Dhan Yojana', it is indeed proving to be a game changer. CNBC-TV18 deems it opportune to hold the 2nd edition of the Financial Inclusion Agenda Conclave in New Delhi. Nirmala Sitharaman minister of state for commerce, finance & corporate affairs will preside over as the guest of honour.