Saturday, Apr 20 2024 | Time 04:08 Hrs(IST)
image
Business EconomyPosted at: Sep 17 2021 5:06PM


Fill banking backlog of Marathwada: Economist Dr Kate writes to Centre

Aurangabad, Sep 17 (UNI) Aurangabad-based economic expert Dr D S Kate on Friday urged the Centre to expand the banking network across Marathwada which has a “share of up to 10 per cent in the Maharashtra's income”.
Also a social worker, Dr Kate made the appeal “to fill the banking backlog of backward Marathwada” a day after a conference of nationalised banks’ was held here on Thursday.
In a memorandum to Union MoS Finance Dr Bhagwat Karad, he further said, “Considering the whole country, Marathwada is a backward region with a share of up to 10 per cent in the state's income.”
“Around 74 per cent of the population is dependent on agriculture and the burden is on agriculture and allied industries. They do not yet have access to banking services and facilities as they have very few bank branches in rural areas. As a result, the poor people working class farmers fall prey to private lenders, they are not able to repay the interest rate due to high interest rates,” he averred.
“Therefore, the suicide rate is higher in Marathwada. The per capita income in Marathwada is 40 percent lower. For this, we can build a viable economy in Marathwada through agro-industry and micro-finance, but it has to deal with bank branches and its scope. In order to reach this facility to the rural areas, we should conduct a country level survey and help to fill this banking backlog in Marathwada region,” he asserted.
He continued, “At the same time, by establishing a separate banking system or banking system or a board of banks, the scope of bank branches should be expanded as per the need in Marathwada and Marathwada should be established as a separate micro finance department and the scope of credit should be increased to boost development of Agriculture and other sector in Marathwada.”
UNI VKB KAZ SHK1706
Please log in to get detailed story.
Tags: #Fill banking backlog of Marathwada: Economist Dr Kate writes to Centre
More News

"CSIR-IICT and BHEL partners to advance clean fuel technology: MoU signed on CO2 to DME"

19 Apr 2024 | 7:23 PM

Hyderabad, April 19 (UNI) The Council of Scientific and Industrial Research-Indian Institute of Chemical Technology (CSIR-IICT) and Bharat Heavy Electricals Limited (BHEL) Corporate R&D have forged a partnership to develop technology for capturing and converting carbon dioxide (CO2) to Dimethyl Ether (DME) through direct catalytic conversion.

see more..

Amara Raja Infra Wins Greenko’s 700MWp solar project in AP

19 Apr 2024 | 6:41 PM

Hyderabad, Apr 19 (UNI) Amara Raja Infra Private Limited (ARIPL), part of the $1.75 billion Amara Raja Group, on Friday announced it has secured a solar BoS (Balance of System) project of 500MW/700MWp from Greenko.

see more..
Sensex recovers 600 points on heavy buying on last day of week

Sensex recovers 600 points on heavy buying on last day of week

19 Apr 2024 | 5:34 PM

Mumbai, April 19 (UNI) Snapping a losing streak of last four sessions, the BSE Sensex on Friday bounced back 599.34 points to close at 73088.33 on expectation of minimal escalation of tension between Israel and Iran.

see more..

19 Apr 2024 | 5:24 PM

Mumbai, Apr 19 (UNI) IT major Wipro on Friday reported 7.80% year-on-year dip in consolidated net profit at Rs 2,834.6 crore for January-March quarter (Q4) of the financial year 2023-24.

see more..
Rupee up 8 paise against USD

Rupee up 8 paise against USD

19 Apr 2024 | 5:05 PM

Mumbai, April 19 (UNI) The Rupee on Friday ended positive at 83.47, rising 8 paise against the USD on selling US Dollar by bankers and exporters, dealers at the Foreign exchange said.

see more..
image