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Rural banking had been introduced long since the establishment of the banking system in India. It is only recently that rural finance has grown to such proportions. Numerous finance options have come up along with investment instruments for the rural public. It is now easy for people in rural areas to invest small amounts in deposits and savings accounts. The next growth story is emerging in the rural India.
Rural finance is designed specifically for the requirements of the agricultural industry. Many finance companies specialise in offering credit to farmers. This credit can involve anything from mortgage assistance and land development to farming equipment loans. With a large number of people employed in the agricultural sector, rural finance is an important market, closely connected with the progress of the country.
The housing shortage in India is one of this country’s most pressing problems. This is especially true for those living in rural parts of the country; the majority of families live without proper shelter. As the depth of this problem is being realised, banks are making an effort to change the housing scenario and provide those in rural areas with the means to literally live a sheltered life.