Financial Daily from THE HINDU group of publications
Saturday, Jan 07, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 07, 2006 |
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Money & Banking
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Events `Rural finance to be key area for banking sector' Our Bureau
Pune , Jan. 6 The past one decade has seen the emergence of retail finance; the next one would see rural finance emerging as the major area, according to Mr N. Vaghul Chairman Emiretus, ICICI Bank. Addressing the gathering on the annual day of the National Institute of Bank Management, Mr Vaghul said the success of retail finance would be replicated as more smart cards and other technologies would be used.
He said the rural finance would depend on the branches, and not on the intermediaries. Mr Vaghul said that there would be larger involvement of the corporate sector into the rural finance and pointed out "1995-2005, the rural finance was considered a burden and one that can be shunned and ignored. But this mindset is sure to change,'' he said. He added that time had come for the banking industry to declare results on a segmented basis.
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