. 6 % during march 2010 to march 2013. the number of rural atms increased from 5, 196 in march 2010 to 11, 564 in march 2013 ( chart 10 ). chart 10 atm network – by population group 3. 3. 9 financial literacy initiatives financial education, financial inclusion and financial stability are three elements of an integral strategy, as shown in the diagram below. while financial inclusion works from supply side of providing access to various financial services, financial bis central bankers ’ speeches education feeds the demand side by promoting awareness among the people regarding the needs and benefits of financial services offered by banks and other institutions. going forward, these two strategies promote greater financial stability. financial stability development council ( fsdc ) has explicit mandate to focus on financial inclusion and financial literacy simultaneously. rbi has issued revised guidelines on the financial literacy centres ( flc ) on june 6, 2012, for setting up flcs, as detailed in box 1 above. 3. 3. 10 growth in shg – bank linkage this model helps in bringing more people under sustainable development in a cost effective manner within a short span of time. as on march 2011, there are around 7. 46 million saving linked shgs with aggregate savings of rs. 70. 16 billion and 1. 19 million credit linked shgs with credit of rs. 145. 57 billion ( source : nabard, status of microfinance in india ). 3. 3. 11 growth of mfis : though rbi has adopted the bank - led model for achieving financial inclusion, certain nbfcs which were supplementing financial inclusion efforts at the ground level, specializing in micro credit have been recognized as a separate category of nbfcs as nbfc - mfis. at present, around 30 mfis have been approved by rbi. their asset size has progressively increased to reach rs. 19, 000 crore as at end sept 2013. 3. 3. 12 bank credit to msme9 msme sector which has large employment potential of 59. 7 million persons over 26. 1 million enterprises, is considered as an engine for economic growth and promoting financial inclusion in rural areas. msmes primarily depend on bank credit for their operations. micro small and medium enterprises have been considered as engine for economic growth and promoting equitable development of the country because of its employment and export potential and economic empowerment of a vast section of the population. msme sector employs 59. 7 million persons spread over 26. 1 million enterprises. this sector accounts

constituted a committee ( chairman : b. sambamurthy ) banks technology service providers ( tsps ) : there are a number of issues involving tsps via - a - vis several banks. banks banks / rrbs, co - op banks banks / rrbs 4 ) bsbd accounts : it is understood that nearly half of the bsbd accounts are dormant. for effective use of bsbd accounts economic activity needs to be improved. governments – central and state ; banks, co - op banks, rrbs 5 ) use of pacs and primary cooperatives as bcs : pacs penetration in rural areas is far more than that of bank branches. banks may make use of this largest rural network of cooperatives as business correspondents. recent nabard circular also envisaged that pacs can be utilized as bcs for ccbs / scbs. banks, rrbs, state governments 6 ) financial inclusion in urban areas : generally, urban financial inclusion leaves vast scope for improvement. migration from rural to urban centres is also accentuating the problem. banks 7 ) remittance corridors : remittance facility for migrant population is of paramount importance. providing of easy and cheap remittance facilities to migrant population is an absolute imperative. banks migrants are not adequately covered : migrants are facing difficulties in opening bank accounts. commercial banks need to take care of the needs of the migrant population in their financial inclusion plans. rbi and banks 8 ) source : department of financial services, government of india. there are some 85, 000 pos terminals existing where rupay cards are already accepted. so far, 25 commercial banks, 25 rrbs and 30 urban co - op banks have issued over 2 million rupay cards. number mobile subscribers in rural india increased more than 9 times from just 33. 14 million in march 2007 to 323. 27 million in march 2012 ( source : trai annual report 2011 – 12 ) bis central bankers ’ speeches 9 ) human face of banking : to deal with poor villagers, banks need to initiate training programmes to frontline staff and managers as well as bcs on the human side of banking. banks 10 ) agriculture advances : while the number of farmers accounts with scbs ’ increased from just 63 lakh in march 2006 to 176 lakh in march 201016 ; in terms of credit, farmers with land holdings ‘ above 5 acre ’ accounted for largest share of 44 % of total bank credit. to achieve meaningful financial inclusion, banks should give priority for small