INTRODUCTION

Financial inclusion influences the monetary policy effectiveness through the behavior of households and firms as they adjust their savings or borrowing patterns in line with the central bank’s policy stance. This is why the State Bank of Pakistan puts great emphasis on increasing the level of financial inclusion in the country in a bid to bring a large segment of the population in to the banking system. SBP BSC, being its operational arm supports SBP in its endeavor to increase financial inclusion.

For this purpose, SBP BSC set up Financial Inclusion Support Department (FISD)* in 2007 that focuses on financial inclusion activities by reaching out to public at gross root level. FISD, in collaboration with BSC Field Offices continuously interacts with stakeholders including banking network, government departments, academia and general public. It prepares plans for activities to be undertaken by BSC Field Offices as well as commercial banks relating to financial inclusion; ensures implementation of the plans; and also monitors their performances. A wide range of activities are covered under financial inclusion drive, which focus on financial literacy, access to finance, and promotion of targeted credit schemes.

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