customer ’ s rights need to be safeguarded to ensure there is no misselling or deficiency in services. eighth, rrbs and well functioning cooperatives can be supported by banks to increase outreach. sponsor banks have a specific responsibility in this regard and need to take ownership for their sponsored rrbs. unlike other parts of the financial system, the rrbs with nearly 14500 branches are concentrated in the regions that are relatively backward and populous but where the incremental prospect for business and banking penetration is high. hr, technology and processes and leadership issues need to be addressed if rrbs are to fulfill what is expected from them. last but not the least, the role of the state governments in facilitating financial inclusion is critical. land settlement rights, computerization of land records, and providing economic and social infrastructure with pro - active agricultural extension machinery will greatly help in using financial inclusion for sustainable development. also leveraging the use of it by collaborative efforts between banks and state governments can prove to be a win win situation. thank you.

fluid and i expect that we will look ahead as we look back. it's my privilege to be heading the rbi at such an historic moment. first of all, i want to say that the rbi has earned an enviable reputation for competence, for its professionalism and its integrity. we will of course be having events to commemorate the anniversary. but what i do want to do is to use the jubilee as an occasion to have rbi understand that they must make a difference and i want the people of india to understand that the rbi does something that's important in their daily lives. i want our staff to understand that they can make a difference. cb : looking back on the reserve bank's first 75 years, are there any lessons from history that the institution could usefully apply in the current circumstances? ds : i'm afraid i'm not a student of history but 75 years is a long time and there are certainly lessons from our experience. the central bank has performed the role of being an effective counterpoint to government which often has to concentrate on short - term objectives. on its part, the reserve bank has been able to take a medium - term view and what is prudent and optimal comes out of this synthesis. we should continue to do that. rbi has had a culture of gradualism, moving forward decisively but only after weighing carefully the pros and cons. it's like the crossing a river by feeling the stones metaphor. moving forward we need to understand that monetary policy is going to be more difficult because of the increasing forces of globalisation. as i mentioned earlier, we need to acquire greater proficiency in that. cb : where do you believe your views differ from those of your predecessor, y. v. reddy? where are there similarities? ds : dr reddy is an eminent economist who has served the rbi with dignity and distinction. he's a difficult act to follow. we are similar in that our aims are to keep the economy on a high - growth path with price stability and increasingly, financial stability. however, the difference between him and me will be the specific circumstances that we encounter when we try to deal with that mandate. dr. reddy has had to deal with two episodes of inflation, one demand driven and the other supply driven. he has also had to deal with a flood of capital flows. i have had a baptism by fire, taking over at a time of crisis, where i've had to act quickly.