Promotion of Rural Banking in India: Policy Initiatives

Rural development will have to play a remarkable role in the overall development of a country like India where major portion of the population lives in the rural areas. So without the development of rural economy real growth of Indian economy cannot be accomplished. To develop the Indian economy the major policy initiatives were taken by RBI and NABARD with regard to rural banking in India. Banks have a special responsibility in overall development of the economies especially the rural areas. Still there are 375 unbanked areas and 296 underbanked areas. They need special attention.