A new department, titled the Financial System Development and Compliance (FSDC) Group, was set up in the Bank in April 2009 to drive these initiatives. I am pleased to announce that through this new Group, the Reserve Bank has been able to make good progress in areas of microfinance and financial inclusion.
National microfinance workshop In November 2009, the Reserve Bank, in collaboration with the Pacific Financial Inclusion Programme (PFIP), successfully organised a National Microfinance and Financial Inclusion workshop. Our objective was to harness the strengths and efforts of all the players in the industry towards building a sustainable way forward for microfinance in general and financial inclusion in particular.