bankers ’ speeches b. population < 2000 for villages with population less than 2000, the number of bcs registered a sharp growth. however, the rrbs failed in achieving the set target for bc outlets for the year ended march, 2013. 3. basic savings bank deposit account it is observed that most of the basic savings bank deposit accounts ( bsbda ) were opened through branches. the number of accounts opened through branches stood at 330. 10 lakh, while only 72. 84 lakh accounts were opened through bcs ( year ended march 2013 ). bis central bankers ’ speeches the graphs show the amount mobilized each year ( in percentage ) in basic savings bank deposit account ( bsbda ) through branches and bcs. in the year 2012, there was a sharp fall in the amount mobilized through bcs but it has again picked up in 2013. the total number of basic savings bank deposit accounts has increased considerably. from around 230 lakh accounts ( year ended march, 2010 ) to more than 400 lakh accounts ( year ended march, 2013 ), the growth rate has been equal to 74 %. 4. kisan credit cards bis central bankers ’ speeches the branches were successful in achieving their target number of kccs ( year ended march, 2013 ). no kccs were sourced through the bcs for the years ended 2010 and 2011. 5. general credit cards 13. the bc is utilized to externalize part of the credit cycle. he has to work towards spreading awareness of the availability of the bank ’ s products and services. bcs can be better leveraged by the rrb branches. they are in need of greater handholding and necessarily of close and continuous supervision. 14. though there has been reasonable progress with regard to extending the penetration of banking services and opening of basic bank accounts, the number of transactions through the ict based bc outlets are poor. during the period of the next 3 year financial inclusion plan i. e. 2013 – 16 rrbs should endeavour to leverage technology to the optimum. technology enables the bank to transcend the barriers of geography and to provide services at the borrower ’ s doorstep. though the initial cost is high over time it pays for itself. regional rural banks should through financial innovation try to focus on mezzanine finance, on the creation of customised products linked to the income streams of the poor borrowers and geared to meet the specific needs of the rural clientele. mobile technology can be harnessed to improve access and usage of

system. we are currently paying particular attention to three major developments that could trigger financial stability concerns globally and in the euro area. first, the current expansion of the us is now significantly longer than historical norms and the second longest in us modern history. looking ahead, a down - turn in the us macro - financial cycle could trigger a reassessment of riskier asset classes. second, at the global level, tensions have grown in emerging market economies on the back of a stronger us dollar and increased trade frictions. these developments may undermine global growth prospects and ultimately lead to abrupt increases in risk premia. this could trigger a domino effect – leading to a sharp sell - off and further price pressures in assets with stretched valuations – with the potential to spill over to euro area financial markets. third, in europe we observe re - emerging debt sustainability concerns, both in the public and private sector. as regards public finances, italy is the most prominent case at the moment in light of the overall debt level and the political tensions around the italian government ’ s budget plans. the strong market reactions to political events have triggered renewed concerns about the 1 / 7 bis central bankers'speeches sovereign - bank nexus in parts of europe. although contagion has been limited so far, it remains a possibility. this underpins the call for fiscal discipline and for observing and applying fiscal rules in europe. but in the non - financial private sector too, debt levels remain high by both historical and international standards. in a number of countries, debt is above thresholds that are normally associated with a debt overhang. and growing debt levels should also be seen in the context of buoyant real estate market developments in a number of countries. in light of the current global and domestic developments, a common concern is that we may see a large and abrupt surge in risk premia, triggered or amplified by uncertainty about political actions or a shift in risk perception. at the same time, we are worried about the possible amplification of stress in financial markets through deleveraging and forced asset selling in a situation where asset prices are falling. now that the banking sector is shrinking and becoming more resilient, our radar is shifting to the non - bank financial sector, which is more lightly regulated. in particular, we need a better understanding of the role of asset managers and of the broader vulnerabilities inherent to investment funds. the asset management sector now plays a much larger role in financial markets than it did ten years