In this context, our recent financial inclusion drive has four key elements. First, provision of a set of basic financial products and services for the vulnerable and financially excluded sections. This includes a savings cum overdraft product in the form of no-frills account, and entrepreneurial credit in the form of Kisan Credit Card (KCC)/General Credit Card (GCC).
Second, spread of financial literacy across all sections of the society by creating awareness about financial products and services among the population. Third, greater regulatory incentives through liberalisation of interest rates and branch licensing. Banks have been given complete freedom to price their advances so that lending in the rural areas could be a commercial proposition.