RBI constitutes a Committee on Medium-term Path on Financial Inclusion RBI announced the constitution of a Committee with the objective of working out a medium-term (five year) measurable action plan for financial inclusion. It may be mentioned that on the occasion of the Reserve Bank’s 80th anniversary, Hon’ble Prime Minister in his address urged the Bank to take the lead in encouraging financial institutions and to set a medium-to-long term target for sustainable financial inclusion. The chairman of the Committee is Shri Deepak Mohanty, Executive Director, Reserve Bank of India . The terms of reference of the Committee are as under: (i) To review the existing policy of financial inclusion including supportive payment system and customer protection framework taking into account the recommendations made by various committees set up earlier. (ii) To study cross country experiences in financial inclusion to identify key learnings, particularly in the area of technology-based delivery models, that could inform our policies and practices. (iii) To articulate the underlying policy and institutional framework, also covering consumer protection and financial literacy, as well as delivery mechanism of financial inclusion encompassing both households and small businesses, with particular emphasis on rural inclusion including group-based credit delivery mechanisms. (iv) To suggest a monitorable medium-term action plan for financial inclusion in terms of its various components like payments, deposit, credit, social security transfers, pension and insurance. (v) To examine any other related issues.