credit flow made higher demands for resources under the fund. on the contrary, states with lower credit flow were lagging in borrowing funds from ridf. thus, the least developed states which are already credit starved are getting lower share of funds from the ridf. this highlights the need to break this vicious cycle and think of certain measures by which funds can be earmarked to the most backward / credit starved regions to ensure speedier development of the most backward areas in the country. we may also have to think of ways to incentivise banks to lend in these backward areas so that both demand and supply side issues are addressed. these issues and challenges impinge on the efficiency, inclusiveness and sustainability of the agricultural credit system, which is a matter of concern. internal working group set up by rbi 12. considering this, rbi had set up an internal working group ( iw g ) in february 2019, to understand the issues and recommend workable solutions to address the constraints. the iw g based on extensive data analysis and research held extensive consultations and deliberations with experts and practitioners in the field and submitted its report in september 2019. 13. the recommendations of the iw g include building up of an enabling ecosystem through digitisation of land records, reforming of land leasing framework, creation of a national level agency to build consensus among the state governments and central government with regard to agriculture - related policy reforms and innovative digital solutions to bridge the information gap between the banks and farmers for expediting the credit delivery process. other policy interventions recommended are - suitable modifications in the priority sector lending guidelines applicable to all banks and strengthening of credit delivery channels through kisan credit cards, self - help group bank linkage programme, farmer producers organisations, in a manner to make them more effective and efficient in ensuring credit flow to the credit starved 3 / 5 bis central bankers'speeches regions of the country, as also to the excluded segments of the farming community. rbi would be initiating necessary steps for implementing these recommendations as these would go a long way in ensuring the long - term sustainability and viability of the indian agriculture sector. financial inclusion 14. financial inclusion ( fi ) is a policy thrust area for rbi and as a result of the various initiatives, tremendous progress has been made in the domain of financial inclusion since the country set out in mission mode about 10 years ago. further, with the launch of pradhan mantri jan dhan yojana ( pmjdy ), almost every household has

watched. most important, there is a reassurance that in the context of current rise in inflation all are on the same side, viz., on the side of price stability. the fiscal authorities, monetary policy, the financial markets and corporates are committed to the objective of price stability and minimising volatility. in this background, therefore, rbi will continue its dialogue with market participants to fine tune its response to minimise volatility while emphasising the importance of reserve bank ’ s credibility in maintaining price stability consistent with the compulsions of the growth dynamics in our country at this juncture. thank you.