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Lack of rural banking facilities worrying, says Pranab Mukherjee

Tirupati, Sat, 07 Jan 2012 ANI

Tirupati (Andhra Pradesh), Jan 7 (ANI): Finance Minister Pranab Mukherjee has said the lack of banking facilities in rural areas is a cause for concern.


"Despite nationalisation of the banks in 1969, more than 42 years ago, coverage of the rural areas by the banking network is still very poor. Out of six lakh forty thousand villages, only in thirty thousand villages there are regular bank branches of any form of public sector banks or private sector banks," he said during his visit here on Friday.


Mukherjee further said the government aims to increase the number of banks over the next three years in villages across the country.


"Our target is now we should like to cover every village having population of thousand plus in the next three to four years so that large number of the villages are covered by some sort of banking facilities," he said.


Banks and financial intuitions have played major role in the economic development of the country and most of the credit- related schemes of the government to uplift the poorer and the under-privileged sections have been implemented through the banking sector. (ANI)


Read More: Tirupati | Bank | Fri | Andhra

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