DESCRIBES BANKS AS BACKBONE OF THE ECONOMY

Jalandhar
Describing banks as backbone of the economy, the Additional Deputy Commissioner Jalandhar Dr. Bhupinder Pal Singh today exhorted the banks to focus on awakening the people about the effective use of financial services by them.

Addressing the gathering during a function aimed at enhancing financial inclusion in the district here at KL Saigal memorial Hall today, the Additional Deputy Commissioner said that banks must come forward for imparting knowledge to people for enabling them to do financial planning, inculcate saving habits in them and improve their understanding of financial products. He said that the banks must ensure that financial literacy helps the masses to plan ahead of the time for their life cycle needs and deal with unexpected emergencies without resorting to debt. Dr. Bhupinder Pal Singh said that the people should be able to proactively manage money and avoid debt traps.

Likewise, the Additional Deputy Commissioner also underscored the need to create awareness and educate masses in a lucid manner about management of money, importance of savings, advantages of savings with banks, facilities provided by the banks and benefits of borrowing from the banks. He also asked the Banking institutions to play a proactive role for ensuring the welfare of weaker and underprivileged sections of the society. Likewise, Dr Bhupinder Pal Singh also asked the bankers to make concerted efforts for extending easy loans to the skilled persons so that they could live life with dignity and pride. He said that such efforts would help in opening new avenues for self employment for the skilled youth besides boosting the economic growth of the country.

Prominent amongst others present on the occasion included Regional Director Reserve Bank of India Mr. Nirmal Chand, General Manager RBI Mrs. Rashim Dixit, General Manager NABARD Mr. Deepak Kumar, DGM UCO Bank Mr. AK Kanthiwal and Director RUDSET Mr. Jagdish Lal.