NEWS & ADVICE : PERSONAL LOAN
3,500 Gujarat villages to undergo financial inclusion
By Vaibhav Aggarwal
Apr 13, 2010
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The motive of making the country financially educated is still persistent in full tide all across the country. As per the guidelines set by the Union Ministry and the RBI, 3, 500 villages in Gujarat having a population of over 2000 will receive banking facilities. The fact was revealed by Gujarat State Bankers Committee (SLBC).

The announcement of these villages getting financially included was made by RBI Deputy Governor, K.C. Chakraborty.

Top officials of State Bank of India, Bank of Baroda and Dena Bank and others along with many people from the surrounding villages attended the function.

Chakrabarty said, "The primary aim of Reserve Bank for holding such public contact programme was to reach unreachable masses to brief them about banking facilities available to them for qualitative improvement of lives of common persons."

He said that out of the 6, 00, 000 villages identified for financial inclusion only 30, 000 have been brought under its umbrella. He emphasized on the need to make the country financially literate.

He pointed out that despite several steps taken so far by the Government as well as the RBI like the nationalization of banks and opening of regional rural banks (RRBs) by erstwhile Prime Minister, Smt. Indira Gandhi in 1975, the target of total financial inclusion is yet to be achieved.

The banking facilities to be provided in the 3, 500 villages would help the villagers in depositing their money in safe hands and also to receive loans at better rates from banks rather than from greedy moneylenders.

 


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