for operating small customer transactions and can act as an effective supervisory mechanism for bc operations. as mentioned earlier, banks must provide a minimum four products – a no - frills savings account with an overdraft facility, a pure savings product, entrepreneurial credit and remittance services, and new products tailored to income streams of poor borrowers and according to their needs and interests. banks must be able to offer the entire suite of financial products and services to poor clients at attractive pricing. though the cost of administering small - ticket personal transactions is high, this can be brought down if banks effectively leverage ict solutions. this can be attained through product innovation with superior cost efficiency. they must understand and penetrate the rural markets efficiently to cross - sell products and services. mobile banking has tremendous potential and the benefits of m - commerce need to be exploited. it is important that adequate infrastructure such as digital and physical connectivity, uninterrupted power supply, etc., is available. all stakeholders will have to work together through sound and purposeful collaborations. local and national - level organizations have to ensure that these partnerships look at both commercial and social aspects to help achieve scale, sustainability and impact. this collaborative model will have to tackle exclusion by stimulating demand for appropriate financial products, services and advice with the appropriate delivery mechanism, and by ensuring that there is a supply of appropriate and affordable services available to those that need them. mindset, cultural and attitudinal changes at grass roots and cutting - edge technology levels of branches of banks are needed to impart organizational resilience and flexibility. banks should institute systems of reward and recognition for personnel initiating, ideating, innovating and successfully executing new products and services in the rural areas. bis central bankers ’ speeches conclusion empirical evidence shows that economic growth follows financial inclusion. boosting business opportunities will definitely increase the gross domestic product, which will be reflected in our national income growth. people will have safe savings along with access to allied products and services such as insurance cover, entrepreneurial loans, payment and settlement facility, etc. our dream of inclusive growth will not be complete until we create millions of microentrepreneurs across the country. all budding entrepreneurs have to face these challenges and find solutions. people working in the social sector should work for filling up the deficit existing in the economic and social arena. to sum up, financial inclusion is the road that india needs to travel toward becoming a global player. financial access will attract global market

, and the auctioneer achieves a price that is within an acceptable range for both parties. except when he doesn ’ t. as you know, it often happens that an auction item fails to reach the reserve price, so this is not a complete answer to the question of the fair value. the auction is also not objective. the result depends on who attends, where and when it is held, the skill of the auctioneer, and many other factors. similar items may fetch widely different prices at different auctions. an alternative economic approach to determining fair value is to establish the cost of the item to be traded, and a fair profit for the trader. this approach is of limited applicability in practice, because the cost of bringing items to market is information which is seldom available to all parties at the time of the trade, and the notion of a “ normal ” profit is completely arbitrary. as the hearings on public utility prices which the ftc and its predecessor has conducted in the past four decades would by now have demonstrated, there are so many discretionary factors which go into the pricing decision that there is no single unambiguous cost of producing anything. the problem is especially intractable when we ’ re talking about services, such as airline transportation, hotel accommodation, legal services, banking and educational services, to cite just a few random examples. economics has made many attempts to make either of these two basic approaches – cost plus and the equilibrium of demand and supply – a better match with our everyday transactions in the real world. this is not the occasion to go into detail, but it is fair to summarise by saying that no convincing model has emerged that would adequately provide a fair value in the circumstances of the examples with which we began, or in many other instances that might be cited. the most important element in determining values in practice is what actually obtains elsewhere in the market, for all goods and services and in all markets. whatever it is you may be selling or buying, your benchmark for determining what is a fair price is the price of comparable products or services. if you are buying or selling a 3 bedroom, 2 bathroom house, you feel satisfied with your settlement price if the value is roughly what similar homes have sold for in the neighbourhood in recent times. if you are opening a hairdressing business, you will price your services on the basis of what others in the profession are charging. the prices of banks beer, carib and heineken are not