Mumbai (PTI): Union Finance Minister Nirmala Sitharaman on Sunday said despite the huge thrust on financial inclusion and high economic activity, there are districts in the country not having any banking presence at all.

She asked the lenders to get their act together and open either a full-fledged brick-and-mortar branch or an outpost rendering banking services, wondering how banking presence eludes even pockets which have high economic activity.

It can be noted that policymakers have been focusing on financial inclusion for over a decade and also had set a target of ensuring banking presence in every village with a population of over 2,000 people. A few years ago, the RBI had liberalised branch opening norms for banks.

"Even today, there are very many districts in which even big panchayats don't have a physical bank...there are very many districts in which not even one banking institution is physically present," Sitharaman said, speaking at the 74th annual general meeting (AGM) of the industry lobby group Indian Banks' Association (IBA).

She exhorted the IBA members to digitally map all the districts to see the areas having low coverage for themselves and accordingly make provisions for either a physical branch or an outpost.

"You should be able to see the centres of economic activity. Be it a completely rural pocket but if the economic activity is strong there, wouldn't you think there should be some kind of presence?, she asked.

Making it clear that she is not against digitisation, which has paid tremendous cost benefits to lenders in terms of outreach, Sitharaman wondered how there can be parts of country which do not have even a single brick-and-mortar branch.

The minister cited the case of a highly persuasive lawmaker who has been making appeals for a bank branch in an area witnessing high agricultural-related trading and wholesale activity and flags that the locals have to travel miles for their banking needs.

Appreciating the work done by the Pradhan Mantri Jan Dhan Yojana, in which millions of new accounts were opened, the finance minister also reiterated her wish for higher quantum of loans to be given in eastern India and added that lenders have to move beyond looking at such regions as a source of low-cost deposits.

In a statement released after the finance minister's speech, largest private sector lender HDFC Bank said it will be doubling rural reach to 2 lakh villages in the next two years and hire 2,500 people in the next six months.

Meanwhile, Sitharaman asked all to desist calling the National Asset Reconstruction Company (NARCL) as a 'bad bank' as similar institutions are called in other countries like the US.

She also said that the banks' books are much cleaner now and this will help the government as the recapitalisation requirements go down.

Reminding the ambitious target of USD 2 trillion in exports by 2030 and USD 400 billion for the ongoing FY22, she said meeting this aim is possible only if banks are nimble and understand the needs of every business.

The legal framework for creation of a Development Finance Institution (DFI) is on at present, she said, adding that "we need such entities in both the private sector and also the government-backed one to address our developmental aspirations".

She hoped for strong competition between the private DFIs and the state-run one, stating that only that can ensure lower cost of borrowing for projects.

Sitharaman paid homage to bank staffers who died during the pandemic, appreciating their efforts to keep the financial system running even as infections raged all across.

She also advised the banks to improve their corporate communication function for better flow of essential information to the general public.

She said the government's lone focus from here on is a reset of our minds.

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Guwahati, May 15: Skipper Sam Curran played the lead act hitting a well-paced fifty and taking two wickets, as Punjab Kings consigned Rajasthan Royals to a five-wicket defeat in their IPL match here on Wednesday.

The target was a mere 145, but Kings made heavy weather of it on a sluggish track here but Curran (63 not out, 41b, 5x4, 3x6) had a calm head and skills to lift them to their fifth win of the season. PBKS made 145/5 in 18.5 overs.

The Englishman received good support from Jitesh Sharma (22, 20b) as the pair added 63 runs in a fluent fifth wicket partnership.

For Royals, it was their fourth defeat on the trot, but they remained second on the table with 16 points with a qualification to the playoffs to boot with.

The Kings’ chase began on a shaky note as they lost Prabhsimran Singh in the first over itself to Trent Boult.

But bigger jolts were in store as an impressive Avesh Khan (2/28) scalped two wickets in the fifth over.

The right-arm pacer first plucked the important wicket of Rilee Rossouw, who played some strong shots in his 13-ball 22, and then jettisoned in-form Shashank Singh for a two-ball naught.

Shashank failed to connect a fuller, straighter one from Avesh while attempting a flick, and the 141 kmph delivery thudded on his bat. Shashank did not even bother to use DRS as he walked away.

Punjab gained some ground through the alliance between Curran and Jitesh, who smoked R Ashwin for two sixes.

Curran too gave a dose of punishment to the veteran offie, lofting him for a wonderful six over extra cover.

But the blossoming stand was snapped by Yuzvendra Chahal (2/31), leaving PBKS at 111 for five in the 16th over.

However, Curran and Ashutosh Sharma (17 not out, 11 balls) knocked off the remaining runs without further drama.

Earlier, despite a well-tuned 48 from local hero Riyan Parag, RR struggled against an array of accurate bowlers on a rather slow pitch, meandering to a sub-par 144 for nine.

R Ashwin (28, 19b, 3x4, 1x6) and Parag (48, 34, 6x4) tried to accelerate during their 50-run stand for the fourth wicket but it could only bring in a temporary momentum for RR.

In fact, lethargy had set in very early in the Rajasthan innings after the early loss of Jaiswal, who chopped a Curran (2/24) delivery back on to his stumps.

Sanju Samson (18), who went past 500-run in a season for the first time in his IPL career, and Tom-Kohler Cadmore (18, 23b) stitched 36 runs for the second wicket but took six overs for it.

But with Curran and Arshdeep finding a hint of swing and maintaining a good line, scoring was not an easy proposition for the RR batters.

Eventually, Samson, who tried a hopping cut off pacer Nathan Ellis, gave a simple catch to Rahul Chahar at point in the seventh over.

Cadmore too returned to the dugout in the next over, as his almighty heave off leg-spinner Chahar (2/26) could not progress beyond Jitesh in the deep.

Those twin dismissals actually paved the way for the best phase in the Royals’ innings as Ashwin and Parag pressed their foot on the right pedal.

Ashwin displayed his batting skills, smashing Chahar for 17 runs in the 12th over that included a sequence of 6, 4, 4 and the first four was a stunning reverse scoop over backward point.

But he could not further extend his innings, lofting Arshdeep to Shashank.

Parag, usually a free-flowing batter, had to curb his flair in front of a hugely adoring home crowd because of the regular fall of wickets at the other end.

But a late cut off Curran that sped to third man stood as a testament of his ability and timing as he also moved past the 500-run mark for the season, before getting trapped in front of the wicket by Harshal Patel.

However, apart from conquering those little peaks the RR batters failed to slip into the top gear consistently.