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    Banks may get aid if they take basic banking to rural areas

    The government is working on ways to encourage commercial banks to offer rural lending, according to The Financial Express. As part of the financial inclusion project, the finance ministry is looking at ways in which banks can provide some form of financial support in areas which have no banking services.

    February 19, 2011 / 12:52 IST

    The government is working on ways to encourage commercial banks to offer rural lending, according to The Financial Express. As part of the financial inclusion project, the finance ministry is looking at ways in which banks can provide some form of financial support in areas which have no banking services.

    The report says the ministry is working on a proposal to compensate the capital cost spent by the lending institutions in using technological equipment in providing basic banking services. To entice them further, a commission would be handed out to banks with every direct transfer of payment to beneficiaries of the National Rural Employment Guarantee Scheme (NREGS).

    Source: The Financial Express 

    first published: Feb 19, 2011 12:50 pm

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