Deepening the engagement of formal banking for low income households and providing access to the unbanked would require increasingly innovative approaches (including channels, products, interface, etc.). 13. Part of the improved engagement was to ensure enhanced access to credit for small and medium enterprises (SMEs), which were expected to be the major contributors to future growth and employment creation.
Credit to SMEs would require an innovative combination of banks, private equity. 14. We said that with the broadening and deepening of financial sector, some banks may choose to operate in niche areas so as to reap certain obvious advantages in terms of managing business and risk management.