On 21st February 2010 RBI deputy governor Mr.Subir asked all the nationalised banks to go to rural india.He asked all the national banks to provide banking services to the far-flung villages with minimum population of 2000.
On 26th February 2010 our finance minister Mr.Pranab Mukherjee asked all the banks to provide banking facilities for villages.He also said that account is important for all the citizen in india.He also told about introducing of frilled accounts,in which we can maintain zero balance.
ADVANTAGES
* it will increase money circulation in the country.
* it will create lot of job opportunity.
* it will give the banking sector to collect a lot of revenue for the government.
* it would broaden the indian economy.
* it will increase the india's growth rate.
* it will help government to implement the policies effectively and efficiently.
* it would help the village people to get loans easily from the bank for agriculture.
* it would help the young budding entrepreneurs to obtain loan for their business,thus
the standard of living in villages.
* it helps in equal urbanization across the country.
* it will help in easy transaction of money all over the country.
* it will stop the migration of people from rural to urbanized areas.
DISADVANTAGES
* it will increase inflation in the country.
* due to high money circulation,there would be a depreciation in the value of money in international market.
* due to urbanization across india it might reduce the production of agriculture products.
* it might lead to food inflation.
* the urbanization across india may lead to pollution.
* it lead to high consumption rate.
* it might lead to rise in population.
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