Comments of Mr. George Alexander Muthoot MD, Muthoot Finance Ltd on RBI Draft Guidelines for Small & Payment Banks

Quote of Mr. George Alexander Muthoot MD, Muthoot Finance Ltd:

“It is good to see the RBI taking concrete steps towards serving the country’s underserved population. It is this resonance from the regulator that gives us more confidence to do our bit for furthering financial inclusion. The Micro, Small and Medium Enterprise sector (MSME), which contributes 45% of the country’s manufacturing output and 40% of the exports are usually self funded or financed from moneylenders, pawnbrokers. Considering their contribution to the nation’s growth, these enterprises should be brought in the banknet. We are surely interested and our board members are studying the new directives of RBI and will undertake a decision on it soon.”