Abstract
Rural Banks play a significant role in the upliftment of
rural mass. The aim of rural banks is to bridge the credit
gaps existing in the rural areas and they are supposed to be
effective instruments of economic development in rural
India.Agriculture employs more people than any other
economic sector in India making it the main occupation of
the country with majority of Indians forming a large chunk
of rural population. Financial inclusion is seen as one of
the means for overall economic development of a country.
The growth of the Rural Retail Banking Industry fosters
Financial Inclusion by Nationalization of banks, priority
sector lending, and the lead bank schemes, establishment of
more Regional Rural Banks, launch of self-help groups and
bank linkage programs to provide financial access to the
unbanked and under banked areas. The stalk reality is that,
even till date the rural areas lack access to sustainable
financial services, whether it is saving, credit or insurance.
This study aims to identify the most probable scenarios of
banking facilities and to address the constraints that
exclude people from full participation in the financial
sector.
Keywords: Rural Banks, Financial Inclusion, Rural
Development, RBIion.
References
D.A TamilaRasu (Feb 2014) Role of Banking sector on Financial Inclusion development in India.
Ashima Rhapar (june 2013) Effectiveness of Financial Inclusion program in India, VSRD International Journal.
Radhika Dixit and Munmun Gosh (March 2013) Financial inclusion for inclusive growth in India, International Journal of scientific Research.
Rama Pal and Rupayan pal (June 2012) Income related inequality in financial exclusion in India, Indira Gandhi Institute of Development Research, Mumbai, working paper 2012-2013.
Will reforms enable outreach?,M-CRIL Review of Rural Banking in India; working paper-1