Business Daily from THE HINDU group of publications
Wednesday, Oct 03, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Oct 03, 2007 ePaper |
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Money & Banking
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Credit Market Industry & Economy - Rural Development States - Other States BoB ‘adopts’ Dungarpur 
Dr Anil Khandelwal Radhika Menon Dungarpur, Rajasthan, Oct 2 “If we have courage, we can find gold in the earth. If we smile, every season will seem pleasant”. For the people of Dungarpur, the most ‘backward’ district in Rajasthan, the lyrics of their song resound with the promise of hope,with Bank of Baroda promising them loans, education sponsorship and support to integrated rural development programmes. Over the next three years, the bank will extend a credit of Rs 54 crore to about 20,000 families for activities such as diary development, cultivation of high value crops and vegetables and rural artistry. The bank, as part of its corporate social responsibility, has also sanctioned Rs 50 lakh for health camps and scholarships to tribal girls. It plans to set up 400 farmers clubs with Internet facilities for access to to information on agriculture and weather conditions. Assistance will also be provided in marketing their products. It proposes to help form 300 self help groups and work with the State Government, NGOs and private entities on these schemes. Dungarpur consists of over 800 villages with a population of 11 lakh. It ranks lowest on the Human Development Index among 32 districts in Rajasthan, where the literacy level is below 25 per cent and healthcare facilities are minimal. Around 70 per cent of the population is tribal. Financial inclusion has no meaning if there are no credit facilities extended to the poor, said development experts at a function organised for granting funds to the selected beneficiaries. “There has to be an improvement in the delivery system and banks cannot lend to rural areas just to meet targets. There has to be emotional engagement and an integrated effort towards development,” said Dr Anil K Khandelwal, Chairman and Managing Director, BoB The bank will soon carve out a separate micro-finance division within its priority sector department. More Stories on : Credit Market | Rural Development | Other States
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