supplementary surveys to capture more details from reduced samples like the small borrowal accounts survey in the case of banking sector and survey of unclassified receipts in the case of external sector. the surveys conducted by the rbi can be broadly classified into five categories. in the external sector, these include survey of foreign liabilities and assets for corporate, insurance and mutual fund sectors ; coordinated portfolio investment survey ; survey on software export ; unclassified receipt survey used for bop ; survey on balances in nostro / vostro account used in bop, and survey on non - resident deposits. in the banking sector, the surveys cover distribution of credit, deposits and employment ; composition and ownership of deposits ; investment portfolio ; debits to deposit accounts ; international assets and liabilities of banks and small borrowal accounts. in the corporate sector, the survey of performance of private corporate business sector, conducted since 1951 - 52, has been of considerable interest to the analysts. surveys in india directly relevant to monetary policy are industrial outlook survey, inflation expectation survey for households, and survey of inventories, order books and capacity utilisation. there are also ad hoc surveys such as census of non - banking financial companies not accepting public deposits. of greater interest to this group may be the steps recently initiated by the rbi to make use of survey methods for operational purposes like assessing the extent of financial inclusion. you may be aware that in india, government as well as the central bank attach importance to financial empowerment of the rural poor and the rbi has taken steps for financial inclusion and spread of the self help groups. i should confess that we have to considerably strengthen the surveys required for formulation of monetary policy. in this regard, we are collecting information on the surveys conducted by other central banks. among the surveys conducted by other central banks, we observe that some relate to household sector such as access to financial services, demand for housing, consumer confidence, credibility of monetary policy, etc. there are also those relating to markets such as assessment of efficient and fair conduct of financial markets, survey of professional forecasters and of economists ’ expectations. i would, therefore, urge dr. barman and his team to monitor international developments carefully, take into account the country experiences and draw upon the expertise of the multilateral institutions in charting the further course of survey work in the rbi. before concluding this address, i would like to endorse two observations made by governor njuguna ndung ’ u, governor of the central bank of kenya

tenancy, developing aggregation models for financing, agronomic practices, input supply, use of equipments, marketing and processing are immediately required. while the joint liability groups of farmers can serve as an intermediary step, the long term solution is more intense engagement with members. 38. for increasing member participation in the affairs of the pacs, it is essential to increase the number of points of contact between the members and the pacs. the most effective contact can come only be through fruitful business between the two, and hence, the product range offered by the pacs needs to expand significantly. 39. we need to work towards converting pacs into multi functional entities so that all members automatically think of their pacs whenever they think about products and services. examples of pacs engaged in procurement, providing warehousing facilities, stocking and providing other inputs including seeds and saplings, leasing out farm equipments, becoming e - enabled common service centres providing land records and information on weather, market prices, and extension advisories, and so on are now available in some states. pacs also need to provide other financial products, especially insurance, and enhance their fee based income. questions for the way forward 40. having set out the agenda for repair and reform, let me now raise a few questions which, i hope, will engage the attention of this conference over the next two days. question 1 : are cooperatives doing enough for financial inclusion? 41. the basic philosophy and essence of cooperative credit structure is to ensure financial inclusion. financial exclusion, as we all know, is not confined only to the remote parts of this country ; it exists in urban centres as well. the significance of urban financial inclusion also lies in the fact that financial inclusion of the urban poor, and particularly of migrant labourers, provides a forward linkage to rural financial inclusion through the remittance corridor. this question is directed particularly to cooperatives working in urban set up. are they doing enough for financial inclusion? have they cared to open large enough number of accounts of slum dwellers and migrant labourers? question 2 : can cooperatives improve the supply chain to ease inflationary pressure? 42. in developing economies where the supply chain management is generally weak, the layering of middlemen oftentimes creates an artificial inflationary pressure. can a more bis central bankers ’ speeches proactive approach in developing sustainable agri - value chain through cooperatives help in sustainably easing inflationary pressure? question 3 : how to