Press Releases

High Level Committee to review Lead Bank Scheme

Date : 30 Nov 2007

Pursuant to the announcement of the mid-term review of Annual Policy for 2007-08 (paragraph 160), it has been decided to constitute a High Level Committee to review the Lead Bank Scheme and improve its effectiveness, with a focus on financial inclusion and recent developments in the banking sector.The composition of High Level Committee is:

Chairman, NABARD and Chairman, SIDBI will be permanent invitees for all the meetings of the High Level Committee. The Committee will be free to invite other officials/experts/ stakeholders for interaction/exchange of views.

The terms of reference of the Committee will be to review the Lead Bank Scheme with a focus on financial inclusion and recent developments in the banking sector and in the light of the review, to:

i. prepare a comprehensive set of objectives and scope of the Lead Bank Scheme;

ii. make recommendations for rationalisation of the various committees/fora and functionaries under the Scheme;

iii. recommend measures to improve the effectiveness of the Scheme, especially for encouraging greater decentralised approach, dissemination of policies/guidelines, implementation of policies at local level and creation of awareness of banks’ products/policies;

iv. make recommendations relating to timely and consistent information and monitoring system, taking advantage of improved IT capabilities in the banking system; and

v. prepare comprehensive guidelines and a manual of instructions based on the above.

The Committee will submit its Report by the end of March 2008.