Economic and Financial Developments in Andaman and Nicobar Islands

The Reserve Bank has stepped up its efforts in recent years to enhance the penetration of the formal financial sector and promote financial inclusion with a view to improving the well-being of our society. In this regards, the Reserve Bank has been undertaking special initiatives for extending the outreach of banking facilities in states and union territories. Against this backdrop, a brief outline of the economic and financial structure of the Union Territory of Andaman and Nicobar Islands (ANI) as well as highlights of various financial inclusion initiatives taken by the Reserve Bank is given. Some issues that need policy attention are given. [Speech delivered at Andaman Chamber of Commerce and Industry in Port Blair]. URL:[http://rbidocs.rbi.org.in/rdocs/Speeches/PDFs/AFEDS221211FL.pdf].