Read the passage below and asnswer the following questions
Cooperatives are already a significant institutional channel for delivery of financial services to low income groups with their large regional and national networks. Experiments with alternate delivery mechanism such as post offices, retail networks of fertilizer shops/agricultural implements, supermarkets, beverage suppliers, and petrol stations have already begun, and may offer additional prospects for reaching out to large numbers. In this connection, the concept of financial services for the poor will no longer be only dominated by micro-credit. The types of financial services needed by the poor extend far beyond working capital loans, encompassing an array of savings, credit, insurance and money transfer services. Convenient, safe and secured deposit services are a particularly crucial need. However, much depends on the extent to which government and other regulatory organizations can create an enabling framework for orderly growth of the microfinance sector. Depending on their approach, regulators/supervisors can either undermine or encourage the development of microfinance. The overarching goal of all stakeholders should be to support the development of financial systems that work for the poor. This approach requires that we remove the walls - real and imaginary - that separate a micro-finance community from the much broader world of financial systems, markets and development. It requires that we refuse to accept the status quo, in which it is considered normal for a country’s financial systems to serve only a tiny minority of its population, while the vast majority remains outside the systems.

However, a way out of the above situation is to strengthen the public and private financial intermediaries, particularly those engaged in lending to the unorganized sector. The governments should not get directly involved in providing financial services to the poor. Subsidized and inefficient lending programs foster a culture of non- repayment on the part of clients and undermine good micro-finance institutions. It should not be encouraged.