Difference between public sector banks and regional rural banks
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Nationalisation of the bank was done in the year 1969 for the purpose of making credit available to the productive sectors (such as agriculture and SME) of the economy. Before that all banks, except SBI which got nationalised in 1955, were managed by private houses and these banks use to lend mainly to big corporates. Therefore, GOI nationalised 14 banks in 1969 and other 6 banks in 1980. These banks were relatively of the bigger size.
Despite of the bank nationalisation, GOI felt that there shall be specialised institutions for rural lending. Cooperative banks have been doing rural banking for decades but these were managed very non-professionally (have political influence too) and had corruption.
as mix of rural character and professionalism of the commercial banks keeping the shareholding
Despite of the bank nationalisation, GOI felt that there shall be specialised institutions for rural lending. Cooperative banks have been doing rural banking for decades but these were managed very non-professionally (have political influence too) and had corruption.
as mix of rural character and professionalism of the commercial banks keeping the shareholding
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