Non-performing assets of these banks began to rise. The day is not far off when the face of India will be changed beyond recognition. In spite of rapid industrialization and development of cities, more than 70 percent of the people live in rural areas.
Thanks to the dedicated work under its apex organization for agriculture, NABARD, banks have already achieved this target. Service firms have different resources to explore the new technological evolutions. At the same time, the medium and small ventures must also have credit available to them for new investment and expansion of the existing units.
Banks play an important role in the enhancement of investments in the country and also support the expansion of the business of all levels including small and large enterprises.
The facility of internet banking enables a consumer to access and operate his bank account without actually visiting the bank premises. The industry of service takes advantage through investing in new technologies.
Mergers and amalgamation is the next measure on the agenda of the government. The aim of the bankers at that time was maximum profits with minimum risk.
Internal changes have been greatly amplified by the internet. Essay UK - http: The paper finds that in the long-run both nominal agricultural wages and non-agricultural wages exhibit statistically significant positive relationship with rural prices.
As a result, the small savings were the first choice of the investors.
The financial sector reforms and the reforms of banking sector are a part of the economic reforms. Rahimudinand Bhukhrai, Internet banking is use of electronic methods or means without cash or check we can transfer money from one account to other account. But with the nationalization of banks inthe concept and attitude of the bankers got totally changed.
Service quality is one of the major factors that determines the success and prosperity of the electronic banking. Banks and financial intuitions have played major role in the economic development of the country and most of the credit- related schemes of the government to uplift the poorer and the under-privileged sections have been implemented through the banking sector.
While the commercial banks cater to the banking needs of the people in the cities and towns, there is another category of banks that looks after the credit and banking needs of the people living in the rural areas, particularly the farmers.Rural cooperative banks operate mainly for the benefit of rural areas, particularly the agricultural sector.
Though much smaller as compared to scheduled commercial banks, co-operative banks constitute an important segment of the Indian banking system. Lets know about the greatest change in rural area through banking sector.
ROLE OF BANKING SECTOR IN RURAL INDIA: In this current scenario there are many rural areas where the people does not know about the schemes launched by the government of India. The Reserve Bank of India today placed on its website a Working Paper titled “Rural Wage Dynamics in India: What Role does Inflation Play?” under the Reserve Bank of India Working Paper Series*.
The Paper is authored by Sujata Kundu. Role of Banking Sector in Bharat (Rural India) One of our reader (Monisha) has written an essay on Role of Banking Sector in Rural India. The #1 Free Online Courses and Education Portal.
Banks and financial intuitions have played major role in the economic development of the country and most of the credit- related schemes of the government to uplift the poorer and the under-privileged sections have been implemented through the banking sector.
Role of Banking in Rural Development. Money, everybody knows, makes the mare go. The banking industry, is therefore, the real backbone of any country because it controls the entire economy.Download