Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Is banking sector necessary in rural areas? If yes, why?

user-image
Question added by P A Cariappa Appaiah , back office executive , Inspire Hond
Date Posted: 2016/10/23
Moustafa Kenawy
by Moustafa Kenawy , Franchise Head , Inspire Pharma

of course yes, as all payment in the future will be through banking sector even in the rural & remote areas this direction will be supported by all governments, companies, organizations ...etc. as this way are more easy, secured & can be analysed for business developement 

Amar Jyoti Bairagi
by Amar Jyoti Bairagi , Safety Engineer , AFCONS INFRASTRUCTURE LTD

Yes, it is very much necessary.

1. Security being the primary issue, Bank will give people opportunity to securely deal with finance without being worried about outside disturbances(stealing,robbery,anti-social activities,etc).

2. Provide opportunities to people for taking up loan at a lower rate of interest than a private individual thus promoting growth and resulting in timely return of the loaned money.

3. Proper organisation of financial resources for people and reduce necessity of carrying cash.

4. Provide opportunity to the government to perform income tax surveys at ease and take necessary action so that defaulter taxpayers pay there tax.

5. Easy transfer of money from distant location.

More Questions Like This

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.