marketing at hyderabad, november 22. bis central bankers ’ speeches third, over the medium term supply can be improved in a non - inflationary manner by augmenting productivity. one important way of productivity expansion is through greater mechanisation. however, dominance of small size of land holdings puts a constraint on the choice of technology. hence contract farming and leasing of farmland while protecting the ownership rights of small landholders should be facilitated to enhance production and productivity. fourth, from the demand side dispensation of social welfare benefits through cash transfer would help not only in rationalising demand for food products but also in containing the distortionary effect on the labour market resulting in a more economic use of the labour supply. finally, while the major policy actions to augment food supply may not be in the domain of monetary policy, it may have to perform a careful balancing act so that a sharp action does not choke off supply response and a weak response hardens inflationary expectations. thank you once again for your kind attention and for inviting me to deliver this prestigious lecture which has been a privilege. bis central bankers ’ speeches

inclusive credit : the next milestone 1 ( remarks delivered by shri m. rajeshwar rao, deputy governor, reserve bank of india – on september 08, 2022 - at assocham ’ s 17th annual summit & awards on banking & financial sector lending in mumbai ) ladies and gentlemen, i thank assocham for inviting me to deliver this talk here today. the theme of this summit - “ financial inclusion & future of financial services in india - vision 2030 ” is indeed contextual and relevant given the challenges we face at this juncture. the discussions around the issue at this summit should generate invigorating discussions and productive outcomes during the course of the day. financial inclusion has always been an important policy imperative realising its importance in economic development and social well - being of the populace. we have come a long way in our pursuit for financial inclusion which started with promotion of cooperatives, nationalization of banks, institutionalisation of priority sector lending and lead bank scheme, implementation of bc model and more recently with pradhan mantri jan dhan yojana ( pmjdy ). in this journey, we have adjusted our strategies and policy focus factoring in the changing demographics, economic situation, and social needs. given the wide geographical spread and the need to include large unbanked population, the policy thrust for a long time had been on providing access to basic financial services. it is quite rightly recognised that access to a bank and a bank account is the first step toward broader financial inclusion since it enables people to carry out basic banking functions such as remittances besides acting as a gateway to access other financial services. in this effort, rbi mandated banks to open branches in underbanked pockets which led to a considerable increase in bank branches and later automated teller machines ( atms ) in the 1990s to early 2000s. a roadmap for having banking outlets in villages with population remarks delivered by shri m. rajeshwar rao, deputy governor, reserve bank of india – on september 08, 2022 - at assocham ’ s 17th annual summit & awards on banking & financial sector lending in mumbai. the inputs provided by shri chandan kumar, shri pradeep kumar and shri pramanshu rajput are thankfully acknowledged. more than 2000 ( in 2009 ) and less than 2000 ( in 2012 ) was also prepared. subsequently the banks were advised to open brick and mortar branches in villages with population of more than 5000. to strengthen financial inclusion, the branch authorisation guidelines