This document discusses the growth of India's economy and the role of rural India in economic development. It notes that while services is the largest sector, agriculture and rural development remain important. The document then analyzes trends in rural income distribution and financial inclusion in rural areas. It identifies opportunities in rural banking including farm mechanization, agro-industries, warehousing, and retail banking. Finally, it discusses diverse business models for rural banking, including branch expansion, alternate delivery channels like micro and biometric ATMs, and mobile ATMs.

1. The growth storyof Indiaisfascinatingandinterestingandunfoldingthe economytothe worldwithits
vast presence of HumanandNatural resources.Indiaisthe secondmostpopulouscountryof the globe
with1.30 billionandhasbecome destinationforqualityworkforce andpotential marketplace for
domesticandmultinational companies.Today,Indiaisone of the fastestgrowingeconomiesamidst
global uncertainties. Nonetheless,itispertinenttonote thatthe growthis notuniformacrossthe
sectorsviz.,Agriculture,IndustryandService Sector,causingaberrationstothe desiredeconomic
developmentprocess.

2. The sectoral share of GDP since last7 years isas under:
Sl.
No.
Sector
GVA (Rsin Crore)
2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 % Share
1 AgricultureSector 1,501,816 1,680,798 1,932,692 2,067,935 2,172,910 2,382,289 17.32%
1.1 Agriculture,forestry & fishing 1,501,816 1,680,798 1,932,692 2,067,935 2,172,910 2,382,289 17.32%
2 Industry Sector 2,635,052 2,921,262 3,188,270 3,455,221 3,683,358 3,989,791 29.02%
2.1 Mining & quarrying 261,035 285,776 295,716 313,844 296,041 309,178 2.25%
2.2 Manufacturing 1,409,986 1,572,830 1,713,445 1,883,929 2,065,093 2,278,149 16.57%
2.3
Electricity,gas, watersupply & other
utility services
186,668 215,164 259,840 279,456 321,765 338,396 2.46%
2.4 Construction 777,363 847,492 919,269 977,992 1,000,459 1,064,068 7.74%
3 ServicesSector 3,969,789 4,603,255 5,245,305 5,947,260 6,595,670 7,378,705 53.66%
3.1
Trade, hotels,transport,communication
and services related tobroadcasting
1,413,116 1,664,083 1,874,443 2,095,337 2,294,367 2,538,162 18.46%
3.2 Financial, real estate& profservs 1,530,691 1,776,023 2,069,386 2,363,328 2,632,432 2,896,300 21.06%
3.3
Public Administration, defenceand
other services
1,025,982 1,163,149 1,301,476 1,488,595 1,668,871 1,944,243 14.14%
GVA at basic prices 8,106,656 9,205,315 10,366,266 11,470,415 12,451,938 13,750,786 100.00%
Fron Statistics Time

3. It isevidentfromthe above that Servicessectoristhe largestsectorof India.Gross Value Added(GVA)
at current pricesforServicessectorisestimatedat73.79 lakhcrore INRin 2016-17. Servicessector
accounts for53.66% of total India'sGVA of 137.51 lakhcrore Indianrupees.WithGVA of Rs. 39.90 lakh
crore,Industrysectorcontributes29.02%. While,Agricultureandalliedsectorshares17.32% and GVA is
aroundof 23.82 lakhcrore INR.
Economic Development- Role of Rural India
Indiais knownascountry of villagesandthe agriculture andalliedactivitiesare the backbone forthe
economicdevelopmentof the country. AgricultureSectorassumesvital importance sinceitprovides
livelihoodto3/4th
of the country’spopulationbesidesbecomingsignificantsource forraw material for
manyindustries.Thus,agricultureisanimportantengine foreconomicgrowthof the country.
Agriculture isatraditionwhichhasshapedthe culture andeconomiclife of the people andthereforewill
continue tobe central to all strategiesonplannedsocioeconomicdevelopmentof the country.Rapid
growthof Agriculture isessentialnotonlytoachieve self-reliance butalsotobringaboutequityin
distributionof income andwealthresultinginreductionof povertylevels.Inthiscontext,itisworthto
recapitulate the thoughtsof firstPrime Ministerof IndiaSri. PanditJawaharlal Nehru “If Agriculturedoes
notgo right,nothing else will” whichspeaksthe importance attachedtothe agriculture inthose years.
Rural Economy - Emerging Trends
Income Distribution Pattern: Though,the economicdevelopmentachievedsofaris mostlyurbanbiased
and withunevendistributionof wealthacrossthe segments,improvementisseeninincome levelsof
rural Indiaespeciallyinpostreformera,isa positive factoranda triggerforhope for the future.
Hitherto,Rural andPovertyare the synonymsbutitisnot so now,whichisevidentfromthe Rural
Income patternsof variousgroupsfurnishedhere below:

5. Financial Inclusion- The bankingindustryhasshowntremendousgrowthinvolumeandcomplexity
duringthe lastfewdecades.Despite makingsignificantimprovementsinthe areasrelatingto financial
viability,profitabilityandcompetitiveness,thereare concernsthatbankshave not beenable toreach
and bringvast segmentof the population,especiallythe underprivilegedsectionsof the society,intothe
foldof basic bankingservices.
Rural & Urban Banking at Glance
Group
Population Branches Per Branch Share of
Share of
Advances
(Crore) (in ‘000)
Population
(in ‘000)
Deposits
Rural 85 (64.4) 36 (37) 23.6 9% 8%
Urban 47 (35.6) 63 (63) 7.5 91% 92%
Total 132 99 13.3 100 100
Source: RBI Banking Statistics – Handout Dec`16 () denotes percent
Skeweddistributionof bankbranchesisobserved acrosspopulationgroupswith7500 per branch in
urban areasand 23600 in Rural areas. Outof 6.4 lakhvillages,the presence of bankbrancheswithfull-
fledgedservicesisavailableonlyin34000 villagesandrecentlyanother73000 villagesare coveredunder
BC model.Still more than5 lakhvillagesremainunbankeddue tostructural andoperational issuessuch
as infrastructure, distance,costs,viabilityetc.
Though,rural Indiaconstitutes68%of country’spopulation,itsshare tototal deposits(9%) andan
advance (8%) isabysmallylowcomparedtourbancounterpart.Absence of bankingservicesinvillagesis
the cause to flourishinformal financialmarketswhichsufferfromseveralimperfectionssuchashigh
cost of creditat exploitative terms,lossof precioussavingsonaccountof fly-by-nightoperators,
inordinate delaysineffectingtransferof fundsandsettlementof accounts. Thus,the financial exclusion
not onlywidensthe ‘Rich-Poordivide’ butalsoleadsto ‘Social Exclusion’.
The increasedinfrastructure developmentacrossthe countryisblurringthe geographical barriersand
makingthe rural populace onpar with the Urban. Hence,the entire gamutof bankinginrural areas
needsarelookas theirneedsare beyondtraditional productslikeNoFrill andCroploans.Banksmay
lookforalternate costeffective businessmodelswithappropriate structure totapthissegment.

6. Rural India– Banking opportunities:
There isa positive correlationbetweeninfrastructuredevelopment&aggregate agricultural
productivity.Rural infrastructuresuchasirrigationwatersheddevelopment,electrification,roads,
markets,creditinstitutions,agriculture research&extensionetctogetherplayskeyrole indetermining
the improvementof productivity.Inthe recentyears,the developmentof roadsconnectingtovillagesis
one of the positive factorswhicheventuallyblurringthe rural andurbandividestoa greaterextent.A
quite revolutionistakingplace inrural Indiawhere economicgrowthisnotjustcreatingthe richbut also
providingample opportunitiestoserve the financiallyexcluded.Rural Bankingisnow alarge
opportunityandwill be capturedthose whoremove the currentbarriersof profitable scale.
Rural financial servicesare the fastestgrowingsegmentonaccountof large untappedpotentialdriven
by the verylowpenetrationinrural market.Today,onlyaround41% of rural householdshave formal
savingsaccountsand 20% alone have accessto creditfrom bankingsystem.Hitherto,majorshare of
bankcreditflowntofarm sectorthat too productionloans.The presence of increasedmiddle income
groupin rural areademandscreditfacilitiesonparwithUrban people andprovidingample
opportunitiestothe banksto extendcredittononfarmsector also.
i) Farm Mechanization:Agricultural inflationhasbeenconsistentlyincreasingdue todemandsupplygap
and there isan imminentneedtoimprove productivitybyextensiveuse of farmmechanization. This
invitesmajorinvestmentsanditisan opportunityforbanksto considerfinancinghightechagriculture
productionlike agriculturalbiotechnologyandfarmmechanization besidescontinuingthe traditional
lendinglikeproductionloans.
ii) Agro Based Industries:The consumptionboomislikelytoleadtohigherdemandforfoodproducts
viz.,milk,meat,eggs,fruits,vegetables,pulsesetc.,whichwarrantssupplyaugmentation.Thiscanbe
achievedthroughexpandingfarmproductionactivitiescoupledwithencouragingentrepreneurstoset
up agro basedindustries.NextGenerationbelongstothe millionsof YoungEntrepreneurs of the country
fromhinterland. Settingupof agro basedindustriesinrural areaswill be beneficial tothe ownersas
well asfarmerssince itaddressesmanylogisticissues.Further,these industriesusheremployment
opportunitiesinrural areasand supplementthe income of the rural households.
iii) Ware Housing: Indiaisthe world’slargestproducerof fruitandvegetablesbutithasbeenestimated
that inadequate post-harveststorage andtransportationcause lossesof around30-40 percent of the
produce everyyear. Constructionof Rural Godowns,ColdStorage andsettingupof agro processunits

7. not onlyhelpsthe farmerstoearnincome besidesprovidingemploymentopportunitiestomanyinrural
areas.However, thisinviteshuge investmentsandthe entrepreneurslookatBanksforrequiredfinancial
supportand guidance.
iv) Retail Banking: There isa spurtin middle classsegmentanditisexpectedtogrow at accelerated
pace inthe ensuingyearswithdistinctfeaturesviz.,Educated,EmployableandBankable.The declining
dependencyratioandincreasednon-farmincomesource are the triggersforthe increasedflow of
savingstothe bankingsystemanda demandforretail bankingservices.The demandforhousinginrural
area ison the rise overthe years.Exceptingweakersectionhousing,majorityrural housingisbeingself-
financed.There are ample opportunitiesforthe bankstotap thissegment. However,affordable housing
isneedof the hour;thiswouldrequire agreatdeal of technologicalandfinancial innovation.
Education Loans: The increasedliteracyrate (from12% in1951 to 69% in 2011) among rural massesisa
positive factor.The recentGovernmentinitiative i.e.waiverof entire interestoneducationloanduring
the studyperiodto the studentswhose parental income isbelow `4.5lakhsper annum, hasmade the
educationloanscheme more attractive andenabledthe bankstoimprove retaillending. Further,it
pavesthe wayto strengthenthe bondage withGen-Y,apotential businesssegmentforbanks.
The envisagedclientexpansionwill leadtoincreasedflowof savingstothe bankingsystemanda
demandforretail bankingserviceslike housingloans,wealthmanagement,insurance,asset
managementetc.Itwarrantsrevisitingthe entire gamutof rural bankingandlookingforcosteffective
businessmodelstoreachthe masses.
Rural Banking – Diverse BusinessModels
Today,the bankinghas become imperative toall the house-holdsirrespective of theirsocial and
financial statusandexpectsminimumfinancial servicesfromthe bankingsystem.The recentFinancial
Inclusioninitiativesof the Governmenti.e.provideaccesstobankingservicesatall villagesthrough
Branch bankingor BusinessCorrespondentataffordable costisgoingtotransformthe banking
landscape togreaterextentanditis an importantbusinesssegmentforbanks.However, providing
financial servicestothe poor,especiallyinrural areas,isbothchallengingandcostly.The transaction
costs have become one of the deterringfactorstoreach the un-bankedbythe banks. The stupendous
task can be achieved byadoptingDiverse BusinessModels.
I. Branch Expansion

8. i) Physical Branches: The penetrationof bankinginIndiaislow comparedtodevelopednations,whichis
evidentfromthe presence of 5.40lakh unbanked villagesacrossthe country.Branch bankingcontinues
to playsignificantrole inbusinessdevelopmentdespite increasedadoptionof Alternate Delivery
Channelsinthe recentyears.The roadmap of IndianBanksclearlyindicatesthatBCmodel isgoingtobe
usedina bigwayto achieve the financial inclusionobjective.However,banksneedtoopenmore
numberof brick andmortar branchesespeciallyinunbankedcenterstocoverthe large populationon
one hand andbranch networkacts as service branchtoroute the transactionsundertakenbyBCs.
Hence,branchnetworkcontinuedtogrow inthe ensuingyearsalso.
ii) Ultra Small Branches (Mobile Branches): Aspart of liberalizedBranchAuthorizationpolicy,RBIhas
grantedgeneral permissiontodomesticscheduledcommercial bankstoopensatellite branchesin
unbankedareaswhere the populationisbelow 50,000.It envisagesthe extensionof bankingfacilities
throughone or two dedicatedstaff memberswhovisitthe identifiedvillage locationonspecifieddays.It
isa cost effective model comparedtophysical branchmodel. A designatedofficerof the linkbranch
shall visitthe villageona prefixeddate andtime everyweekwithalaptopwithVirtual PrivateNetwork
(VPS) connectivitytoCore BankingPlatform. The role of the visitingofficial isauthorizationof the
accounts,balance enquiry,printingof accountstatementsandrecovery.However,the normal cash
transactionswill be done bythe BC agentonly.
iii) Branch-in-a-Box:It isprimarilyacost-effective,relocatable andpre-fabricatedbankbranch.Ituses
modern,broadbandsatellite technologyforcommunication.Thisenhancescustomerconvenience asit
providesspeedyaccess.Itcan alsobe usedto testnew markets,especiallyinareaswithlimited
infrastructure where bankingservicesare notreadilyavailable.Itprovidesfull transactionfacilitiesto
customers,includingcashwithdrawalsanddeposits,salesandservice.
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II. Alternate DeliveryChannels
The residentsof far-flungareasare unable topayvisittobrancheslocatedat distantplacesonaccount
of resource constraintsviz.,time,costandopportunity.Thus,ithasbecome imperative forbanksto
reach outcustomersthrougha varietyof technologydrivendeliverychannels suchasMicro ATMs, Bio-
metricATMs, Mobile ATMs,and Smart Cardsetc., whichare most costeffective comparedtoBrickand
Mortar model. ATMhas broughtseachange inIndianBankingspace withsignificantqualitative

9. improvementindeliveryof bankingservicesandwithinshortspanthe presence of ATMsare
outnumberedthe physical branchnetwork.
i) Micro ATMs: Thoughthere isconsiderable improvementinATMnetwork,the presence of ATMsin
rural areasis verylimited. Banksare notkeento install ATMs at Rural/Semi Urbancentersonaccount of
highinvestmentandlowtransactionvolume.Inordertomake the ATMs viable atthese centers,there is
a needto deploylowcostATMs withbasicfeaturessuchascash withdrawal andbalance enquiryetc. It
isconvenientandcosteffectivetothe customerscomparedtopay visittothe bank branchlocatedat
nearbycenter.
ii) Biometric ATMs: The penetrationof ATMsintoRural areasmay not serve the envisagedpurpose
unlessitisput to use byilliterates/semi-literateswhose presence ispredominantinunbankedareas.
The existingATMsare not put to use optimallybyrural folkonaccountof PIN/Passwordrelatedissues.
Introductionof BiometricATMsenable themtoavail hassle-free servicesas these devicesfunctionon
thumbprintand recognize voice commandsinvernacularlanguage.
iii) Mobile ATMs- In thismodel,ATMis installedinavehicle,whichwouldmove tothe pre-determined
placesat regularintervalstoprovide Door-stepbanking. These new breedof ATMsalsohave biometric
authenticationmechanismslike fingerprintverificationandvoice guidedanimatedscreenswithtouch
enabledtransactions. Mobile ATMscan undertake openingof accounts,whichhasimmense benefitto
the residentsof unbankedcenters.
v) White Label ATMs - The recentinitiativesof the RBIand the Governmentistoallow white-label
ATMs, permittingthird-partyservice providerstosetupmore ATMs in off-premisesareas,whichinclude
residentialcomplexes,hospitals,touristdestinations,busstopsandrailwaystations. TheseATMs
wouldnotbelongtoany bankin particularbutwill be ownedaswell asmaintainedbyindependent
service providers. Thisinitiative will enable the excludedsegmentstoavail ATMservices asat present
majorityATMs are confinedtoUrban/Metroareas only. However,service providerlevychargeswhich
are to be eitherbearbythe Bank or the customer.
vi) Smart Cards: State Governmentsare activelylookingatmakingpensionpaymentsanddisbursals
underRural EmploymentGenerationProgramusingsmartcards linkedbankaccounts. Smartcard
providesbiometricauthentication,whichwouldhelpinreducingfraudsandensure identityof
customers. Inorderto popularize smartcards,all agriculture shorttermloansand paymentof social
securityschemesare tobe dispensedthroughSmartCards.

10. All the above initiativeswarrantthe banksto investsubstantial amountsininfrastructure besides
recurringexpenditure whichaddscostto the customerwhere asthe distributionof financialproducts
and servicesatthe lowestrungof the pyramidrequiresalow-costmodel. HighOperatingCostsandLow
BusinessVolume are the majorconstraintsof the banksinextendingbankingservicesespeciallyin
remote rural and inaccessibleareasthroughBranchBankingModel.Toaddressthisissue,RBIpermitted
the banksto make use the servicesof BusinessCorrespondentstotake bankingto un-bankedareasina
mostcost effective manner.
III. BusinessCorrespondent(BC) Model
BusinessCorrespondentmodel usingsmartcard andmobile technologyisalsoaneffectivetool toreach
the remote rural areas where alternate deliverychannel mechanismisnotfeasible.Thismodel enables
greaterrural outreachto improve the businessvolumes.RBIpermittedthe BCstoundertake basic
bankingservicesviz.,Collection/paymentof small value deposits,disbursal of small value loanamounts,
collectionof loaninstallments,receiptanddeliveryof small value remittancesandSale of micro
insurance/mutualfundproducts/pensionproducts/otherthirdpartyproducts. Though,BCmodel has
beengainingmomentumsince lasttwoyears,still desiredresultsare notcomingasthe model is
confrontingthe followingissuesandchallenges,whichneedtobe addressedonpriority.
i) Operational issues:Cashmanagementisthe biggestchallenge asthe majoroperationsof BCspertains
to cash transactions.Itentailsinterestcostsaswell asoperational risks.Further,the beneficiariesof BC
servicesare mostlyilliterateandare susceptibletomisguidance.Attimes,customerstendtoperceive
the BCs as banks.The successof the model cruciallydependonthe trustlevelsamongcustomers,banks
and BCs,whichis possible throughspreadof financial awarenessby conductingfinancial literacy
programson an ongoingbasis.
ii) Viability:The viabilityof the BCmodel isthe mostcritical issue whichprobablyisone of the main
reasonsfornot taking-off the model asenvisaged.The transactionvolumeisnotencouragingsince
manyof the accounts openedare indormantstage. Absence of sufficientbusinessiscausingconcernto
bothBCs as well asbanks;and in turnit isbecomingdifficultforBCsto continue operationsonaccount
of mismatchof revenuesearnedandcostsincurred.Banksneedtotweakthe productsand workwith
the BCs to designproductsthatare suitable tothe targetmarketto make the model profitable.Further,
to make the BC model viable,the fundspertainingtovariousgovernmentschemesare tobe routed
directlythroughthe beneficiaries’bankaccountsonly.

11. Mobile Banking
Till recentyears,Mobile/Cell phone usedtobe a statussymbol or lifestyle product,andnow ithas
become a necessityandinseparablewithday-to-daylife of the individualsirrespective of age,education
and financial background.Indiaaccountsforabout1/4th
of world’smobilemarketwith965 millionand
makinginroadsinto remote rural areas.The share of rural subscribersisaround35% speaksgrowing
potential of thissegment. The reachof mobile tothe remote areasanditsusage by the commonman
has become orderof the day. The swiftgrowthinnumberof Mobile usersandwidercoverage of mobile
phone networkshasmade thischannel animportantplatformforextendingbankingservicesto
customers. Mobile bankingrunsonInterbankMobile PaymentService (IMPS) mode whichenablesthe
bankcustomersto have accessto theirbank accountsand carryout bankingtransactionsincludingfunds
transfers acrossthe banksusing mobile phonesindependentof Branch/BusinessCorrespondents.
M-walletisthe furtherextensionof Mobile Bankinganditactslike a pre-paidaccountoperatedthrough
a mobile phone whichcanbe usedforsmall purchases,remittances,billpaymentsandcash
withdrawals. Telecomplayersare playingsignificantrole intakingthisconceptforwardwithstrategic
tie-upswithbanksas service provideraswell asbusinesscorrespondents.Asperthe recentstudy,the
cost effectivenessisone of the majoradvantagesof the Mobile Banking,asthe mobile based
transactioncost isabout 2% of branch banking,10% of ATM and 50% of the Internetbanking.
T-Banking: Today,we rarelycome across a house without Television.Ithasbecome one of the cost
effectivemodes todisseminate informationandtoprovide entertainmenttothe public.Banksmay
make use of the existingcable networktoextendbankingservicestovastsegmentusingthismode as
non-branchservice deliverychannel.However,thismodel yettotake a shape forpilotimplementation.
Challenges
i) Technology – Though,Mobile Bankingismostcost effectivecomparedtootherchannelstoreach
unbankedareas,all three stakeholdersviz.the TelecomOperators,BanksandMerchantsshouldworkin
tandemwith suitable businessmodelonrobusttechnologyplatformtoachieve the desiredresults.

12. ii) Human Resources - The presence of full-fledgedBrickandMortar branches,newlyintroducedUltra
Small branchesandBusinessCorrespondents(BCs) are goingtostay inrural India.However,the said
deliverychannelsneedtobe handledbystaff withpositive attitude.The presentrecruitmentpoliciesof
the bankssignifythe factthat majorityof staff absorbedare fromurban backgroundand theyare not
keentoserve inrural areas,causinga hindrance forsmoothbankingoperationsinrural areas.Atthe
same time the bankingindustryisinneedof another1.50 lakh additional manpowertoserve the
unbankedareaswhichisa majorchallenge.Ironically,there are large numbersof rural youngpopulation
withaverage academicbackgroundiseagerlywaitingforemploymentopportunities.
Similarly,Personnel handlingBCsneedtobe trainedfurthertoenable themtohelpthe customersin
understandingthe financial productsandtotake informeddecisions.Achievingfullscale financial
inclusion,BCsalsoneedtobe adequatelytrainedbothontechnologyplatformandbankingdomain
knowledge.Thisissue needstobe addressedonprioritybyadoptingsuitablerecruitmentmodelsto
attract local talent. It isthe time forthe Banks,GovernmentandRegulatorstopay focusedattentionon
the above issuesandinitiate necessarystepstobridge the gapthroughadoptingappropriate
recruitmentpoliciesforsustainedgrowthof the bankingindustry.
iii) Financial Literacy - In the above backdrop,majorchunkof prospective customersare likelyfrom
unbanked/underbankedpopulationwhoseawarenesstowardsbankingservicesislimited.Itwarrants
strategicinitiativesfrombanks invitinginvestmentincustomereducationthroughfinancial literacyand
awarenessprograms.
Way forward
Everyhouseholdisbankable.Todayaround100 millionrural householdsare awayfromthe banking
systemandtheirestimatedaverage bankingrequirementisabout2lakhsper household,which
translateshuge business(around `20 lakhcrore) to the bankingindustry,almosttwotimesof the
existingbusinessof rural bankbranchesof the country. Nonetheless,understandingthe nuancesof rural
consumerbehavior,offeringcustomizedproducts,forgingthe rightpartnerships/collaborationsand
developingthe appropriatebusinessmodelsandorganizationstructure isthe prerequisite forthe banks
to tap the vast potential of rural India.

13. Mobile Bankinghas greatpotential toprovide the bankingfacilitiestopeopletruly“anywhere”on
account of easyadoptability,affordabilityandcosteffectivenesscomparedtootherdeliverychannels.
Nevertheless,banksneedtoadoptmulti-prongedapproachviz.,Brick&Mortar Branches,Ultra Small
Branches,ATMs and BusinessCorrespondents,toreachthe large numberof unbankedpopulationwith
diverse literacy,economicandsocial backgroundsacrossthe geographies.Inthe presentscenario,no
single channel istobe treatedassubstitute tootherchannel;rathertheyare to be viewed
as complementtoeachother.
The expectedburgeoningclientbase isreallyadauntingtaskforthe bankingindustrytohandle their
diversifiedneeds.However,itisanopportunitytoenhance the value of all stakeholderswithimproved
businessvolumes. Banksneedtoadopt “HighVolume – Low Margin” businessmodel
leveragingTechnology andHuman Capitaltoremaincompetitive inthe presentfierce dynamic
environment.
The initiativesof the policymakers,regulatorandbanksinthisdirectionare goingto transformthe rural
Indiaina bigway.Thisdecade definitelybe aniconfor Rural Bankingand pavesthe wayto achieve the
longcherisheddreamof InclusiveGrowth.