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Banks and Rural Development

Author(s):

Ravichandra , kannada university Hampi Ballary

Keywords:

Rural development, Nationalized Bank, RRB, Private Bank, Co-operative banks

Abstract

Rural development is a process that aims at improving the standard of living of the people living in the rural areas. India is a country of villages and its development is synonymous with the development of the people living in rural areas. India is a vast and second most populous country of the world. According to the 1991 census, 74.28 percent population of our country resides in the countryside. Rural development has been receiving increasing attention of the governments across the world. Banks have contributed a lot in developing in rural India. Regional rural banks were also created to meet the credit requirements of only weaker sections and small entrepreneurs. The RRBs were setup in 1975 as the poor man’s bank or low cost banks to supplement the efforts of cooperative and commercial banks. The RRBs since then have passed through various phases and now have been recognized as integral part of rural credit delivery system in the country. India is a country of villages. According to Census of India’s 2011 Provisional Population, out of 121 crore Indians, 83.3crore live in rural areas while 37.7 crore stay in urban areas. There are about 6 lakhs villages in our country. Around 70% of the population of India lives in villages i.e. rural areas. So the rural areas need to be developed. This research paper is based on the secondary data and its focusing how Nationalized banks, RRB’s private banks and co-operative banks contribute their role for the development of rural area.

Other Details

Paper ID: IJSRDV7I10354
Published in: Volume : 7, Issue : 1
Publication Date: 01/04/2019
Page(s): 688-693

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