Banks and Its Role in Rural Development
Government of India & RBI has taken lot of steps for the development of rural areas. But still the rural population of India suffers from a great deal of indebtedness and is subject to exploitation in the credit market due to high interest rates and the lack of convenient access to credit. Banks play an important role in mobilization and allocation of financial resources. This paper discusses the challenges for rural credit and the role of the government / RBI to meet out these challenges. Along with these the paper also highlights the different schemes for the rural development.