Ashok Kumar Madhav1, Mervin Felix Caleb

ABSTRACT

Till 1950s the progress in terms of outreach by cooperatives was limited. This led to the Nationalization of Commercial Banks in 1969 and 1980, to step up credit to rural masses and Regional Rural Banks (RRBs) in mid-1970s, hence the credit architecture consisted basically of cooperatives, commercial banks and regional rural banks. Further NABARD set up in 1982, as a part of Financial Inclusion, other financial concepts such as Self Help Groups, Micro Finance Institutions etc. are now being working at both Urban and Rural levels. Added to this the revival Package of Vidyanathan committee (2006), RBI’s efforts in 2007 for providing IT support to UCBs etc. All these support extended to the rural communities clearly indicates the improving financial conditions of the rural communities. These areas have become potential and opportunities waits for bankers to start their business in these areas.