‘Banking services in rural areas will usher in a revolution’ - The Hindu

‘Banking services in rural areas will usher in a revolution’ - The Hindu

Things are bright in the south. On June 28, 2013(the day this event took place), media reported some findings of a CRISIL study conducted on the basis of three parameters -- branch, deposit and credit penetration -- across the 632 districts in India. The study revealed that the bottom 50 districts have just three banks per 100,000 of population, just half of the 7.6 bank branches per one lakh population on an all-India level. These districts have just two per cent of the total bank branches in the country. Besides, they also have just 4,068 loan accounts per 100,000 of population as compared to an all-India level of 11,680 accounts. Lack of awareness, low incomes, poverty and illiteracy are among the key factors that lead to a low demand for financial services and, consequently, to exclusion.
M G WARRIER

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