Report of the Committee on Financial Sector Assessment (CFSA) 2009

REPORT FINDINGS

Development Issues in the Socio-economic Context

A stability assessment of the financial sector should also address broader development aspects in the socio-economic context, which affect social stability and have an indirect bearing on financial stability.

Financial inclusion is one of the major determinants of economic growth. Higher economic growth and infrastructure, in turn, play a crucial role in promoting financial inclusion. In order to achieve the objective of growth with equity, it is imperative that infrastructure is developed in tandem with financial inclusion, as this would facilitate and enhance credit absorptive capacity.

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