BANGALORE: RBI Governor Raghuram Rajan today said the financial inclusion drive, likely to be announced by Prime Minister Narendra Modi on August 15, will break the link between poor public services, patronage and corruption.

"It can break a link between poor public service, patronage, and corruption that is growing more worrisome," Raghuram Rajan said, delivering 20th Lalit Doshi memorial lecture here.

The drive is likely to include identifying the poor, creation of unique biometric identifiers, opening bank accounts linked to these identifiers and eventually transferring government subsidies to these accounts.

"When fully rolled out, I believe it will give the poor the choice and respect as well as the services they had to beg for in the past," Raghuram Rajan said, adding that financial inclusion will be an important part of government's and Reserve Bank's plans for the coming years.

READ MORE: India Tops In Global Retirement Index

Jaitley Nudges RBI To Cut Rate For Boosting Growth