Private bank collected ₹140 crore in deposits from rural areas in Dakshina Kannada district, lent just ₹80 lakh
Banking officials in Dakshina Kannada have criticized private banks for collecting significant deposits from rural areas while failing to meet lending targets in those same regions. The district administration is pushing for a more balanced credit-to-deposit ratio to support local development.
Why it matters
Addresses the issue of financial inclusion and the responsibility of banks to reinvest in the rural communities where they operate.
Dakshina Kannada Zilla Panchayat Chief Executive Officer Narwade Vinayak Karbhari on June 30 cajoled banks to improve lending to housing and non-priority sector as banks get good returns from these two sectors.
The article reports on official government meetings and data without taking a partisan stance.
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