Role of public and private sector banks in agri finance in india
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The Government of India and Reserve Bank of India [RBI], acknowledging the significance of the role of formal credit for agricultural development and growth, initiated policy to progressively institutionalize agricultural credit system and expand it beyond cooperative credit structure by nationalizing private banks in 1969, establishing regional rural banks in 1975 and subsequently licensing private sector banks [PBs] since January 1993 and 2001 during post-reform period. Policy makers have realized that banking system in India should grow in size and sophistication to meet the challenges of an emerging economy and extend the geographic coverage of banks to improve rural households’ access to banking services...
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