Provide banking facilities in each town: RBI to banks

Barabanki (Uttar Pradesh) RBI Governor D Subbarao asked banks on Wednesday to meet the target of providing banking facilities to small towns soon.

"It is unfortunate that 90 per cent towns of the country did not have banking facilities.

"The target of RBI is to ensure that every family have a bank account," Subbarao said while addressing a programme in Barabanki in Uttar Pradesh.

He said that there are 600,000 towns in the country, of them 100,000 are

in Uttar Pradesh. "I urge all the banks to soon fulfil target of providing banking facilities in these towns," he added.

Accepting that inflation had increased in past few years, the RBI governor said that though they had somewhat succeeded in containing it in past two years, it is still there.

"It is our priority to check price-rise and will remain so", he said.

On inflow of fake Indian currency notes in the market, Subbarao said that some criminal and anti-social elements were involved in it (circulations of fake notes) and RBI was doing whatever is possible to check its inflow.