Ad Here  
August
September
October
November
December
January
 
 
Emerging crisis Two banks: their jubilees and performances One down in private sector New capitals of Migrant banks LVB- A supermarket of financial services Small finance payment banks... Drop in SLR- sparing lendable resources Cut in repo rate – lower than expected Growing gainfully Growing volume of stressed assets… Bank deposits account for 46.3 per cent of household savings Capital base of regional rural banks raised Small finance banks offer high interest rates Just 660 days! Target over-ambitious... Banking in Telangana Stage set for Indian ‘avatar’ of foreign banks Why priority status? Well-lived... Smart banking in smart cities Ernakulam excels... Drastic decline in asset quality Fund healthcare clinics in villages... Governance in Reverse Gear? Banking overhauling or reorganisation? How ‘secure’ are the secured loans? Needed a Banking Atlas It’s a war on black money, support it. Greet Lakshmi the banking robot A new development bank rising in the east… Ferrying digital banking to Lakshadweep Nothing much can happen…. Grows Bigger Good, bad and ugly A bank for women, by women Monetary policy continues to adopt dis-inflationary path From lazy banking to easy banking Indian customers are tech savvy Reaching out: is it slowing down? Reaching the Unreached… Thirty more cities seek to become SMART Big bank merger, bigger expectations All that glitters is not gold... Another route for achieving financial inclusion What is the priority – mergers or NPA reduction? Aadhaar, niraadhaar and banking Insatiable appetite for credit United India Insurance - Rs 110 crore losses have been claimed till now due to floods in Tamil Nadu Who is the real beneficiary? Rationalised The paradox: clamour for the Goliath and David Cradle of banks to a smart city... Bottomlines shrink, bad loans rise... Holy or unholy? Why any time money? A development bank for BRICS Hesitancy in announcing year-end results Anytime banking to anywhere banking Targets continue to be ad hoc Perhaps small is more beautiful than big! Financial inclusion vs unclaimed deposits The collaboration suite of cyber criminals Cautious and considerate Lacklustre credit expansion Managing NPAs... How okay are new banks? Banking on Risk Merger mania haunts banks Payment banks have arrived Small is ‘more’ beautiful Too big to fail and too small to sail Mega merger is on New bank licences, at last...
 
Fund healthcare clinics in villages...
The Union Budget 2015-16 proposes to combine the three programmes – Jan Dhan, Aadhar and Mobile banking to reach the benefits of developmental programmes directly to the beneficiaries through bank accounts.

Adopting the year 2022 as the target date - coinciding with the 75th anniversary of our Independence – a number of welfare programs would be implemented, like Housing for all, Health for all, Universal Social Security and Insurance cover for the poor at an annual premium of just Rs.12

Implicit in the Budget proposals is the strategic role assigned to the banking sector in facilitating the achievement of the crucial targets set for 2022. Though the Finance Minister has not elaborated the specific task assigned to the banking sector, a proactive role has to be played by banks.

 

Housing for all by 2022

According to an estimation made by the Technical Group on Urban Housing Shortage, about 19 million households in urban India face housing shortage. Regarding the rural housing shortage, the Working Group on Rural Housing for the Twelfth Five Year Plan has estimated it to be 43.6 million houses. By a rough estimate, the number of houses to be built to reach the target could be anywhere over 60 million houses. Even if the Government of India and all the state governments could formulate schemes for affordable housing, the banking sector has to accelerate its lending to the housing sector. As on March 2013, banks have only 6,570,334 housing loan accounts and the amount of housing loan outstanding is Rs.4,647,112 million. It is not easy to estimate the volume of housing loans to be sanctioned to provide housing to all by 2022.

The Reserve Bank of India has announced recently a positive step to facilitate house loan borrowings below Rs.10 lakh. “With a view to encourage availability of affordable housing, it has been decided that in such cases, banks may add stamp duty, registration and other documentation charges to the cost of the housing unit for calculating loan to value ratio,” the RBI notification has said. At present there is concentration of housing loans in the urban areas in a few states. Banks may have to spread out their housing loans in the rural and semi-urban areas also.

 

Health for all

Inadequacy of medical facilities and its total absence in remote villages has been a major lacuna of regional development in India. In one of the earlier Five Year Plans, there was a programme aiming at Health for All. New medical colleges were permitted under this plan and a large number of medical graduates were turned out. But there has been very little improvement in the availability of medical facilities in rural India. Reluctance of the young medicos to serve in rural areas was one of the major constraints. There are more bare-foot bankers than bare-foot doctors in rural India today.

States have to increase significantly outlays on healthcare to ensure that medical facilities would be within the reach of all rural households. The corporate sector, more particularly pharmaceutical companies, who are cash rich, may be directed to utilise a part of their funds earmarked for discharging Corporate Social Responsibility, to provide health care centres in villages. Banks may have to extend financial support to young doctors to set up their clinics in rural areas.

Author :
Reported On :
Sector :
Shoulder :
RELATED NEWS
ABOUT IE
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
 
PRIVACY POLICY
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
TERMS AND CONDITIONS
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
 
CONTACT US
S-15, Industrial Estate,
Guindy,
Chennai - 600 032.
PHONE: +91 44 22501236
EMAIL: indecom1968@gmail.com