Book contents
- Frontmatter
- Contents
- Foreword
- Preface
- Acknowledgements
- 1 Institutional Credit Delivery System: Policy Intervention
- 2 Indian Agriculture Perspectives
- 3 Commercial Banks: Strategic Opportunities
- 4 The Regional Rural Banks
- 5 The Cooperative Banks: Promise vs. Performance
- 6 Institutional Microfinance
- 7 Micro-finance Initiatives for Equitable and Sustainable Development
Preface
Published online by Cambridge University Press: 05 February 2012
- Frontmatter
- Contents
- Foreword
- Preface
- Acknowledgements
- 1 Institutional Credit Delivery System: Policy Intervention
- 2 Indian Agriculture Perspectives
- 3 Commercial Banks: Strategic Opportunities
- 4 The Regional Rural Banks
- 5 The Cooperative Banks: Promise vs. Performance
- 6 Institutional Microfinance
- 7 Micro-finance Initiatives for Equitable and Sustainable Development
Summary
Economic growth is a necessary but not a sufficient condition for the alleviation of poverty. Inclusive paradigms of growth are a necessity. The composition of growth is as relevant as the rate of growth. Growth in the primary sector serves to ratchet economic growth. For increasing opportunities for employment and for ensuring food security, it is necessary to focus on agricultural productivity. Economic growth with equity or distributive justice is not an either-or choice but is mutually reinforcing. High growth is necessarily linked to agricultural dynamism. Agriculture is the major employer as 65% of our people are still engaged either in direct agriculture or in activities related to agriculture. We cannot afford jobless economic growth. The poor are more vulnerable to inflation. Hence, it is necessary to ensure inflation control. To promote ready access of the poor to institutional sources of credit, financial deepening was promoted through the nationalisation of banks. Banks have been engaged in Social Banking since 1969. There is a policy space to pursue pro-poor growth. This book recognises the importance of institutional microfinance, i.e., microfinance extended by Self-help groups (SHGs) linked to banks. The SHGs generate employment opportunities; they enable the banks to locate and focus on rural or backward areas and pay attention to the endowments of the poor, i.e., labour. Economic policy must focus on provision of basic goods and services. Social capital of groups can be utilised by banks to channelise credit to the poorest of the poor. An ‘inclusive’ paradigm of development is realised in this way.
- Type
- Chapter
- Information
- Social BankingPromise, Performance and Potential, pp. ix - xiPublisher: Foundation BooksPrint publication year: 2006