• Government to acquire RBI equity in SBI.
• Loans for weaker sections – Ceiling under Differential Rate of Interest scheme to be raised from Rs 6,500 to Rs 15,000 and for housing loan from Rs 5,000 to Rs 20,000.
• Regional Rural Banks (RRBs) to embark on aggressive branch expansion program (at least one branch for each of 80 districts so far uncovered). SARFESI Act to apply to RRBs as well. RRBs permitted to accept NRE and FCNR deposits.
• Besides National Insurance Company, other Government owned Insurance companies to also offer senior citizens health insurance scheme in 2007-08.
• National Housing Board to have a special Reverse mortgage scheme for senior citizens whereby Senior Citizens would be allowed ownership/ possession of the house with regular disbursal facility from NHB.
• Appropriate regulations to be in place facilitating mortgage guarantee companies.
• Micro Finance Development & Regulation Bill as also a comprehensive bill to amend Insurance laws to be introduced
• A Financial Inclusion Fund to be established with NABARD for meeting cost of developmental and promotional interventions; a Financial Inclusion Technology Fund also to be set up to meet costs of technology adoption; each fund to have an overall corpus of Rs.5 billion, with initial funding to be contributed by Government, RBI and NABARD.
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