The Hindu Business Line : ‘Explore emerging business opportunities in rural areas’

‘With merger infusing financial strength, coupled with the local feel they command, the reginal rural banks are in a position to play a big role in finan-cial inclusion.’

Our Bureau

Mangalore, June 17 Regional rural banks should wake up to the emerging business opportunities and take lead in financing both agricultural and non-agricultural sectors in rural areas, according to Mr G.L. Tawte, Chief General Manager, Nabard (National Bank for Agriculture and Rural Development), Mumbai.

Inaugurating a one-day seminar on ‘Emerging business opportunities and challenges in capacity building’ for chairmen and general managers of regional rural banks from southern States and Maharashtra at the regional training college of Nabard here on Monday, he said rural areas have excellent business opportunities and that is why foreign banks are looking at India to open their network.

“It is high time the regional rural banks woke up to the emerging business opportunities and took lead in financing both agricultural and non-agricultural sectors in rural areas,” he said.

Welcoming the gathering, Mr S.G. Siddesh, Principal of regional training college of Nabard, highlighted the Dr Rangarajan Committee Report on Financial Inclusion that had emphasised the fact that post-merger, regional rural banks represent a powerful instrument of financial inclusion with their better outreach vis-À-vis other scheduled commercial banks.

With merger infusing the much-needed financial strength in these banks, coupled with the local feel which they command, the reginal rural banks are in a unique position to play a decisive role in financial inclusion, he said.

Mr I. Pardhasaradhi, General Manager of Syndicate Bank, dealt with ‘Strategic role of HR in talent management and competency mapping’.

At the end of the seminar, participants came out with action plans that covered areas relating to financial inclusion, branchless banking, and using self-help groups and farmers’ clubs to canvass new customers.

More Stories on : Events | Rural Development | Regional Rural Banks

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