FSS chief again highlights productive, inclusive finance

SEOUL, May 15 (Yonhap) -- The chief of the country's financial watchdog on Friday urged financial institutions to play a great role in productive and inclusive finance. "Financial institutions should not be indulged in a way of earning interest income easily," Lee Chan-jin, governor of the Financial Supervisory Service (FSS), said during a meeting with members of its advisory panel. To that end, the watchdog will closely monitor household debts and property-related loans to prevent excessive capital inflows into the property market, he said. Also, Lee stressed that his agency will get tougher against unfair market practices, while continuing measures for a capital market advance. The FSS governor said it will further draw up measures to strengthen the social safety net for the underprivileged by prodding financial institutions to better focus on inclusive finance. Earlier, the country's top banking groups said they would implement 70 trillion won (US$46.9 billion) worth of inclusive finance schemes for the underprivileged, small merchants and those facing finance access difficulties. Lee Chan-jin, governor of the Financial Supervisory Service (Yonhap) sam@yna.co.kr(END)