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NABARD official’s appeal to banks

PUDUCHERRY: A. Ramanathan, Chief General Manager, National Bank for Agriculture and Rural Development (NABARD), has stressed the need for an aggressive campaign by banks to spread the message of micro-finance in the country.

Delivering his keynote address at a function to mark the launch of “Right Choice Micro Finance Limited,” he said: “Micro-finance is just like an insurance,” which should be promoted, especially among the rural population.

Citing a recent study conducted by the National Sample Survey Organisation, he said 50 per cent of the people living in rural areas did not have any formal access to banking services. For the country’s all-round development, these segments had to be given access to banking services. Micro-finance programmes had of late became one of the most promising ways to achieve development and alleviate poverty, he said. The NABARD’s SHG-bank link programme was a huge success.

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