RURAL BANKING – OPPORTUNITY FOR DIVERSIFICATION AND GROWTH
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Date
2009
Authors
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Publisher
Birsa Agricultural University, Kanke, Ranchi, Jharkhand
Abstract
Rural banking in India started since the establishment of banking sector in India
with due focus on the agro-based sector and commercial banks in India are penetrating
every corner of the country by extending a helping hand for the growth of rural areas in
the country.
The burden of indebtedness in rural India is great, and falls mainly on the
households of rural working people. The exploitation of this group in the credit market i s
one of the most pervasive and persistent features of rural life in India.
Rural households need credit for various reasons. First to meet short-term
requirements of working capital and long-term investment in agriculture and other
income-bearing activities. Secondly agricultural based activities in rural areas are
typically seasonal, where credit is needed to meet out seasonal fluctuations as an
insurance against risk.
In a village society compulsory and universal education or health care are
generally lacking except few general social security programmes. These enforced rural
households to take credit for the expenditure on food, housing, education and healthcare.
In the Indian context, another important purpose of borrowing is to meet expenses for a
variety of social obligations and rituals.
I, have completed my project work at Allahabad Bank, Belwa Branch,
Gulabbagh, Purnea, Bihar with an objective to learn the opportunity in rural banking in
the field of agriculture and also diversification and growth of rural banking to improve
the socio-economic condition of the rural people.
Description
RURAL BANKING – OPPORTUNITY FOR DIVERSIFICATION AND GROWTH
Keywords
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