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Chennai, June 20

Only half the deposits in rural bank branches in March 2005 were lent. The remaining Rs 1,10,000 crore filtered up to metros. But this is only the first leg of the journey. According to RBI figures, metro borrowers `exported' Rs 86,000 crore of the Rs 7,23,000 crore sanctioned to them, for deployment elsewhere. About Rs 50,000 crore of this money found its way right back to where it came from. In other words, most rural resources migrate not to urban areas, but from individuals to corporates.

Sudhanshu Ranade

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