Modi asks corporates to tap rural opportunity Banks in India have a huge opportunity to be agents of social change and transformation as rural India presents huge opportunities for growth, Prime Minister Narendra Modi said here on Friday. At a function to mark 60 years of the ICICI Group, Mr. Modi said, “Aspirations among the rural population are the same as those of people in urban areas, and rural economic development presents a huge opportunity.” Rural India offers opportunities for the corporate sector that can spur the economic growth of the country, he added. To mark the occasion, ICICI Bank announced the creation of the “ICICI Digital Village” at Akodara in Sabarkantha district of Gujarat to enable villagers to use technology in banking, payments, education, health care and other services. Cashless transactions, paperless textbooks, with children reading books on LED screens and tablets, telemedicine and Wi-Fi connectivity make the village a pioneer in the country. Commending the effort, Mr. Modi said that in India, the saving habit was very strong as in most of Asia. “But people in rural India buy gold. The challenge for the banking sector is to reduce the need to buy gold,” he said. Asserting that the banking sector needed to break the mindset that considered gold a safe haven, Mr. Modi said, “There should be a change in the mindset so that cashless transactions can be encouraged and can replace the perceived safety and security that go
Posted on: Sat, 03 Jan 2015 04:46:05 +0000
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