While the Reserve Bank has been actively engaged in the development of the financial sector, it has stepped up its efforts in recent years to enhance the penetration of the formal financial sector and promote financial inclusion with a view to improving the well-being of our society.
In this regards, the Reserve Bank has been undertaking special initiatives for extending the outreach of banking facilities in the state. Against this background, I propose to briefly outline the economic and financial structure of the state as well as highlight various financial inclusion initiatives taken by the Reserve Bank. In conclusion, I shall present some thoughts on policy challenges ahead.