The financial inclusion drive of Reserve Bank of India is running in full fledged force. The apex bank's major objective behind this drive is to ensure that there are only two kinds of lending institutions in the country- banks and non banking finance companies (NBFCs), said Dr K.C. Chakrabarty, Deputy Governor, RBI.

"Our broad goal is that NBFCs must capture the moneylenders' customers, and banks should capture NBFCs' customers," he said. Banks must look at financial inclusion as a viable business, and should cover the six lakh villages that are still un-banked. Though banks have not made a spectacular progress, "there is a definite progress; every day something is happening," he pointed out. The RBI is working out the eco-system, and "there is still a long way to go," he added.

He said that the target has been set to cover 72000 villages in the first phase of the drive and the remaining in the second phase. In order to achieve this, brick and mortar branches and business correspondents (BCs) with technological aid.

"Through BCs, banks should provide four services - savings bank, pure deposit product, immediate/emergency credit and entrepreneurship credit. Each household must be given a kisan credit card or a general credit card. For those who do not deserve credit, start a financial educational programme, involve the society and the State governments and make them creditworthy so that everybody links with the bank," said Dr Chakrabarty.