Financial inclusion not possible without technology: PNB CMD

Kolkata, Jul 6(UNI) Lack of technology has been hindereing the process of financial inclusion, Punjab National bank CMD Dr K C Chakravarty said today.

Speaking at the sidelines of the Banking Conclave organised by FICCI, Dr Chakravarty said ''Around 41 per cent of the Indian population is unbanked. They whould be part of the inclusive growth.'' ''The delivery model of the banks is very weak in the country.

If we can improve that with the help of technology, then the financial inclusion would be possible,'' he said. Finacial Inclusion is a process through which people in the lower strata of the society would get banking services and remove economic inequality.

''The basic challenge before us is how to increase the coverage of the banking services to bring the unbanked people into our fold,'' he said.

'' Technology, if implemented properly, can bring seachange in the lives of the common people. These unbanked population should be offered smart card to bring in Financial Inclusion,'' he said.

UNI