Lane: First thing that’s important to say is – because there’s a lot of debate about the effectiveness out there, and our staff, we’ve a lot of staff working and the calculations are with the updated data – it remains the case, both instruments, both moving the deposit rate more negative and increasing stock of APP are effective.
The National Sample Survey data revealed that nearly 51% of farmer households in the country did not seek credit from either institutional or non-institutional sources of any kind. These statistics, staggering as they are, do not convey the true extent of financial exclusion. Even where bank accounts are claimed to have been opened, verification has shown that these accounts are dormant.