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The future lies with those companies who see the poor as their customers
~C.K.Prahalad
It is a form of services that provide solution to the financial needs of the consumers in Rural areas.
The objectives is to uplift the mass of population residing in the rural areas who are currently below the poverty line by extending credit to the smallest-scale economic activity.
lending and less than 1% of rural household debt came from commercial bank.
nationalized in 1969.
The central aim was to provide the banking
particularly to small and marginal farmers and agricultural laborers, whether individual or in groups and to co-operatives societies
The granting of loans and advances,
Haryana
State Cooperative Apex Bank Limited NABARD United Bank of India Syndicate Bank Co-operative bank
ESTABLISHMENT OF NABARD
policy , planning & operations in the field of credit for agricultural & other economic activities in the rural areas.
areas.
Reduce regional imbalances and increase
Low density of population. Underdevelopment of rural infrastructure. Lack of financial discipline. Rural interest subsidy
OPPORTUNITIES
global markets.
Govt. thrust. Increasing corporate interest in agri-business. Strengthening loan recovery.
rural areas.
Lower cost of labour , infrastructure & cost of
living.
Large untapped market.
MARKETING STRATEGIES
Co-operative promotion. Developing franchise model. Partnership with NGOs for financing. Simple and accessible loan procedure.