We have adopted a structured, planned and integrated approach towards FI which is focusing on improving access to financial services and also encouraging demand for financial services through financial literacy initiatives.
The amendment would not allow industrial loan companies (ILCs) that operate under a special exemption in federal law from opening de novo branches on a nationwide basis. The corporate owners of these ILCs are not subject to the type of consolidated supervision and activities restrictions that generally apply to the corporate owners of other banks insured by the Federal Deposit Insurance Corporation (FDIC).