I believe it is the first speech by an RBNZ Governor dedicated to that topic. I'm pleased to take it up, because it's an area where we have spent quite a bit of effort in recent years, and because it is of very significant importance to the functioning of the economy.
A major recommendation made by the Internal Group set up by RBI on micro finance (Khan Committee), currently under consideration, is to permit banks to use micro finance institutions as business facilitators and correspondents to enable banks to increase their outreach and ensure greater financial inclusion.