Fiinovation The Billionaire

Business While India is still talking of poor rural India, Baladia is giving the government of India reasons to cheer and be proud of. Baladia is a small hamlet at a distance of 15 kms from Bhuj, Gujarat. Eight nationalized banks serve 1,292 households in the hamlet. The village enjoys the pride of bank deposits worth rupees twenty billion. It is one of a dozen wealthy Patel villages near Bhuj. The bank deposits in Madhapar village stands at 50 billion with 7,630 households while Kera village possess another 20 million bank deposits with 1,863 families. What is interesting is that more than fifty percent of this money is from NRI sources. Fiinovation – These banks in the villages offer ten percent interest rates on deposits by NRIs. Specifically, few villages in Kutch like Madhapar and Baldia possess a huge deposit from NRIs, which is highest amongst all other states in India. Around thirty 30 branches and 24 ATMs of banks have been set up in Madhapar, Baladia and Kera. The bankers shares that Nanpura, Sukhpar, Samatra, Kodaki, Bharasar, Rampar-Vekara, Mankuva and other such villages have bank deposits in the range of Rs. 100 to Rs. 500 crores. A high number of non-resident Gujaratis (NRGs) have savings in India by pooling in a part of their earning in these villages, which are also their homeland. Baladia and Madhapur villages are dominated by Kutchi- Patels, Majority of the population of Kera village .prises of Khoja .munity NRGs. The NRGs from these villages are mostly settled in Kenya, Uganda, Mozambique, Tanzania, South Africa, the UK and Australia. At a deposit worth 9 billion, the district enjoys having the second highest deposits in the state after Ahmadabad. In Kutch, the deposits add up to Rs. 24,353 crores. Duty-bound to their homelands, the NRGs try to re-pay what they have taken from their motherland in the form of deposits and in-turn create wealth for their village. Fiinovation, a CSR based consultancy in India, suggests that other rural areas and villages should take this learning and invite NRIs from different regions to initiate a similar model. Such models of monetary disposition by the NRIs to the Indian banks can further strengthen the bank network in India along with escalating the flow of funds in the economy and help India shine. Along with this, the NRIs can also put together their expertise to develop the backward regions in their homeland. Aditi Singh Media and .munications, Fiinovation About the Author: 相关的主题文章: