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Regional Rural Banks should open financial literacy and credit counselling centres to improve credit flow, according to Brij Mohan Sharma, Executive Director of Canara Bank.
Addressing the officials of Karnataka Vikas Grameena Bank (KVGB) after naming the building of its head office in Dharwad as ‘Vikas Bhavan’ on Friday, he said RRBs are playing a significant role in rural development.
The main aim of RRB should be inclusive growth by promoting financial inclusion, financial literacy, accelerating priority sector lending, inculcating the repayment habits, and motivating the customers for digital banking.
Stating that more than 70 per cent of the people live in villages, Sharma said the standard of living of most has not improved as expected. He asked the branch managers to sanction loans without any inhibition so that the people below the poverty line could be brought up in the ladder of economic progress.
The Chairman of KVGB, P Gopi Krishna, said KVGB has been registering a good growth every year, and the business has crossed ₹27,800 crore now. The bank currently serves more than 2,045 villages with 629 branches, with an emphasis on lending, he said.
KVGB operates in nine districts of Karnataka. They are: Dharwad, Haveri, Gadag, Belagavi, Vijayapura, Bagalkot, Uttara Kannada, Udupi and Dakshina Kannada.
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