How Madhapar became India's richest village with Rs 7,000 crore in bank FDs
Madhapar, a village in Gujarat, India, is recognized as one of the country's wealthiest due to massive fixed deposits held by residents. This wealth is largely attributed to remittances from a large diaspora living and working abroad.
Why it matters
It highlights the significant economic impact of the Indian diaspora on rural development and local financial stability.
Imagine a village with 17 bank branches, where residents collectively hold fixed deposits worth around Rs 7,000 crore. This is not a description of a wealthy urban neighbourhood. It is Madhapar, a village on the outskirts of Bhuj in Gujarat’s Kachchh district. Madhapar has frequently been described as Asia’s richest village, based on the enormous value of fixed deposits held by its residents. According to a 2025 report by NDTV, residents of the village had fixed deposits worth around Rs 7,000 crore.The striking part of the story is not just the amount of money. It is where much of that money has come from.A village with 17 banksFor a village, 17 bank branches is an unusual number. As per various media reports, Madhapar has branches of several major banks, including Axis Bank, HDFC Bank, ICICI Bank and Union Bank, among others.
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