Jayakumar, MD and CEO, Bank of Baroda; Shri Uday Kotak, Ex- VC and MD, Kotak Mahindra Bank; other senior colleagues from the banking and financial sector; members of the print and electronic media; ladies and gentlemen! 2. At the outset, I thank the Mint Management for inviting me to deliver the keynote address at this Annual Banking Conclave.
Moreover, about 19 per cent of households in rural areas are severely poor compared to only 6 per cent in urban areas. This, Ladies and Gentlemen, clearly demonstrates that the disparity and level of exclusion of the majority of the people from the formal sector of the economy, especially the rural poor, remain a serious concern.