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Resource centre on India's rural distress
 
 

3000 new bank branches to come up in rural UP

-The Indian Express

Lucknow: Nearly 3,000 new bank branches will be set up in rural areas of the state till 2014. Reserve Bank of India Governor D Subbarao assured CM Akhilesh Yadav on Tuesday that the villages selected under Dr Ram Manohar Lohia Samagra Gram Vikas Scheme will be given preference for opening new branches.
 
Subbarao met the CM at his residence in Lucknow.

The chief minister pointed out that on the basis of the 2011 census, UP has a bank branch on a population of 16,500 while the national average is one branch for every 13,000 people.

For the new bank branches in Lohia villages, the state government will provide space in Panchayat Bhawan, Internet connectivity and other infrastructure. In coming three months, 300 branches will be set up in the first phase.

It was also agreed to increase the credit-deposit ratio by 3 per cent in 10 districts. A special drive will be undertaken to achieve the target by 2014. It was also decided that banks will co-operate for the development of 140 Muslim-dominated blocks in the state by preparing a separate work plan.