Financial Daily from THE HINDU group of publications
Monday, Jun 28, 2004
Financial Daily from THE HINDU group of publications Monday, Jun 28, 2004 |
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Opinion
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Letters Rural development necessary
This with reference to "Rural branches no drain on banks"(Business Line, June 23). The article is informative and timely. There is a misconception that rural credit is a burden on the banks. As the article points out, the opposite is true. Banks lend a smaller amount to the rural masses than they mobilise as deposits. It is unbelievable that the gap between the bank deposits and loans in rural areas is more than Rs 100,000 crore. It is a crime that such an enormous sum is allowed to be drained out of rural India. How can India dream to be a developed nation without development taking place in its villages? P. A. Joseph Anand (Gujarat) Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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