. with the crs, the financial institutions are able to know and analyze the profile of prospective debtors, can assess possible risks, can streamline the cost, can lower npl and create sound credit culture. in the end, it will support the financial inclusion, and support the ultimate goal of macro economy, namely financial sector stability and economic growth. ladies and gentlemen < the purpose of the workshop > 12. in september 2013, world bank issued the general principles of credit reporting ( gpcr ). the gpcr intends to provide an international agreed framework in the form of international standards for credit reporting systems ’ policy and oversight. these principles suggest the key characteristics that should be satisfied in order to ensure that credit reporting systems are safe, efficient and reliable. 13. as part of fisf indonesia program, an assessment against the implementation of general principles of credit reporting ( gpcr ) in indonesia was conducted in 2015, involving associations, financial institutions, public utilities institutions, and the relevant authorities. the assessment found that there are some critical issues that need to be addressed by indonesian authorities, which includes legal gaps, oversight function and consumer protection aspects. 14. this workshop is expected to provide knowledge about the current condition, the development, and challenges of the implementation of crs in indonesia while learning from the experience of other relevant countries. such knowledge will provide input to the authorities in defining implementable actions on the management of crs in line with the gpcr. ladies and gentlemen, 15. before closing my speech, i would like to give thanks to the committee which have thoroughly initiated and prepared such a great event. i would also like to thank all the speakers and partcipants for the willingness and enthusiasm to participate in this event. 16. with that final note, i hope this event provides us with an understanding of the role and contribution that we can give in order to implement the gpcr, particularly with regards to the indonesian context. i strongly believe it will be beneficial for the industry and related authorities. henceforth, i would like to invite all of us here to share thoughts in what i hope would be a spirited discussions filled with fruitful conclusions. may allah bless and lighten our steps forward. thank you. erwin rijanto deputy governor

small businesses and other unorganised sector entities. today, when it comes to financial inclusion and microfinance, there are several channels such as universal banks, small finance banks, micro finance institutions, bcs, etc. therefore, as a country that is determined to achieve universal financial inclusion at affordable cost, this is a defining moment, and we should seize the opportunity. 10. several innovative measures have been undertaken by the rbi to facilitate the creation of a conducive environment and increase the level of penetration of the banking system to serve the unserved and underserved population for achieving the objective of sustainable and inclusive economic growth. a co - origination model, which enables the scheduled commercial banks ( excluding regional rural banks and small finance banks ) to co - originate loans with the nondeposit taking systemically important nbfcs has also been rolled out for credit delivery to the priority sector. this is expected to boost lending to micro enterprises, small and marginal farmers, self help groups ( shgs ), etc. 11. in order to boost credit to the needy segment of borrowers, the reserve bank has also advised all scheduled commercial banks ( excluding regional rural banks and small finance banks ) that bank credit to registered nbfcs ( other than mfis ) for on - lending will be eligible for classification as priority sector under respective categories subject to certain conditions. 12. the micro, small and medium enterprises form a vital component of the economy in terms of their contribution to employment generation, innovation, exports, and inclusive growth. in view of this, the reserve bank had constituted an ‘ expert committee on micro, small and medium enterprises ’ ( chairman : shri u. k. sinha ) to identify causes and propose long - term solutions for the economic and financial sustainability of the msme sector. the committee has made various recommendations in areas such as legislative and institutional framework, access to finance, capacity building and new technological interventions for lending to msme sector. the recommendations are being examined for implementation. 13. since 2006, the rbi has adopted a planned and structured approach to address the issues of financial inclusion by focusing both the supply and demand side. having spoken about the supply side, let me now discuss the equally important, but less focussed, demand side aspects of financial inclusion. with the growing formalisation of financial services, we must now intensify our efforts on the demand side, which is to focus on enhancing capabilities so that individuals in the low income groups are