Chapter 5: RURAL BANKING AND FINANCE

Credit Co-operative Societies, Regional Rural Banks, Role of NABARD, Microfinance

Institutions

5.1 RURAL BANKING

Government of India and the Reserve Bank of India have been continuously working to achieve
complete financial inclusion i.e. timely and sufficient access to financial services and credit at an
affordable cost, in the vast expanse of our country. Rural banking in India began in earnest with
the formation of the regional rural banks on October 2, 1975. Today, these rural banks are present
in over 21,398 locations throughout the length and breadth of the country.
Rural banking refers to providing banking services to individuals living in rural areas.
Rural banking has become integral to the Indian financial markets with a majority of
Indian population still living in rural or semi-urban areas.
Definition of Rural Bank

A rural bank can be defined as rural financial institution/cooperative/community bank or deposit

taking financial institution that provides customised financial services to rural communities. As
a huge section of the country resides in rural areas, it is important from a financial inclusion
aspect that rural branches exist to cater to the population. However, banking in the rural areas is
different from merchant banking that exists in cities. This unit will begin by examining the
activities of a rural banker, underwriting, bankers to issue and other services.

Rural banking is banking that is done in an area that is not close to towns or cities, making it
difficult for those who need to conduct banking business. Many times a bank agent will come to
the rural area to offer basic banking services. The goals of rural banks are to provide banking
services to the rural/village population of India. Rural banking is a common practice in places
where banking institutions are few and far between and people who need to carry out banking
transactions may have difficulty finding a way to do so. With modern technology, more and more
people have access to online systems that allow them to conduct certain types of banking without
a nearby branch but this technology is not available for everyone and demand for rural banking
is still high in some areas. Rural banking is the process of conducting banking transactions out
in the country where bank branches are too far away to be of use. Rural banking is popular for
very small towns and farmers who live far away from areas of larger population and cannot make
the drive to these locations even when they need to use banking services. Typically, an agent of
the bank will visit these rural locations and offer to make transactions in an official capacity. The
regional rural banks were established with a view to developing the rural economy by providing,
for the purpose of development of agriculture, trade, commerce, industry and other productive
activities in the rural areas credit and other faculties, particularly to small and marginal farmers,

agricultural labourers artisans and small entrepreneurs and for matters connected therewith
andincidental thereto. The institution of Regional Rural Banks (RRBs) was created to meet the
excess demand for institutional credit in the rural areas particularly among the economically and
socially marginalised sections. In order to provide access to low-cost banking facilities to the

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
poor, the Narasimham Working Group proposed the establishment of a new set of banks, as
institutions which combine the local feel and the familiarity with rural problems which the
cooperative possess and the degree of business organisations ability to mobilise deposits, access
to central money markets and modernised outlook which the commercial banks have. The multi-
agency approach to rural credit was also to sub-serve the needs of the input intensive agricultural
strategy, that is, the green revolution, which by the mid-seventies was ready to spread more
widely throughout the Indian countryside. In addition, the potential and the need for
diversification of economic activities in the rural areas had begun to be recognised and this was
a sector where the Regular Rural Banks could play a meaningful role.

Objectives of Rural Banking

The Rural Banks were established on 2nd October 1975. The main objectives of these banks are
to provide credit and other facilities particularly to small and marginal farmers and small
entrepreneurs so as to develop agriculture, trade, commerce industry and other productive
activities in rural areas. The aim of rural banks is to bridge the credit gaps existing in the rural
areas and they are supposed to be effective instruments of economic development in rural India.
Objectives are

1. Opening branches in the rural areas,

2. Providing loans for the development of agricultural sector to small farmers, agricultural
Labourer's and small enterprises.,

3. Generating employment opportunities

4. Encourage saving among the rural people, accepting deposit and using fund for productive
purposes.

5. Protecting common people from money lenders exploitation.

6. Reducing the cost of providing loans in the rural area.

Rural Banking perform various functions. These are as follows:

RBs grant loan and advances to small farmers and agricultural labourers so that they can start
their own farming activities including purchase of land seed and manure.

-RBs provide banking services at the doorsteps of the rural people particularly in those areas
which are not served by any commercial bank.

-The RBs charge a lower rate of interest and thus they reduce the cost of credit in the rural areas.

-RBs provide loan and other financial assistance to entrepreneurs in villages suburban areas and
small towns so that they become able to enlarge their business.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
-Loans to artisans to encourage them for the production of artistic and related goods.

-Encourage the saving habit among the rural and semi-urban population.

-A rural bank focuses on providing savings and credit services to people who live in rural areas.
-The financial products offered respond to the needs of its clients. A rural bank is a smaller size
in assets than the very large banks.

-It is located generally in smaller cities and concentrates in making loans and other services to
those immediate locations.

Importance of Rural Banks

Rural banking activities are primarily intended to serve small businesses and communities in
rural areas basically, support the implementation of national development in order to improve
the welfare of the people, serve the needs of farmers, small businessmen, trying to equal
opportunity, equity income.

Reduce rural and urban gap by mobilizing financial resources and services to rural regions.
Regional Rural Banks pave the way for inclusion of the marginal population like small farmers,
Below Poverty Line (BPL) farmers and workers, small entrepreneurs, artisans, women, etc.

For years, rural banks have been the access point to financial services for individuals living in
hard-to-reach areas. Rural banks support their local economies with secure depositories,
saving and access to loans for countless farmers, fishermen and small entrepreneurs in far-
flung communities. Reduce rural and urban gap by mobilizing financial resources and
services to rural regions. Rural Banks pave the way for inclusion of the marginal population
like small farmers, Below Poverty Line (BPL) farmers and workers, small entrepreneurs,
artisans, women, etc.

Problems

-Uncooperative staff unwilling to work in remote villages

-The high cost of operations
-Low recovery of loans
-Overdue loans
-Weak monitoring of the loaned amount by the staff
-Political interference
-Non-cooperative state governments
-External factors like floods, droughts, etc.
-Changing dynamics of rural economies

5.1.1 Rural Banking: Present and Future

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
India cannot lay claim to inclusive and holistic development without developing its rural
economy and bringing it to the mainstream financial sector. For that to happen the rural banking
sector needs to focus on the following areas;

-Banking with the specific needs of the community in mind

-Access to contemporary and advanced banking services in addition to the basic ones
-Sensitizing the rural populace about the importance of banking services
-Easy accessibility
-Low cost of operations
-Coming up with innovative, tailor-made financial solutions for rural masses

5.1.2 Rural Finance

Rural financial services are nowadays concerned with a variety of services including not only
agricultural lending but lending to farm households for non-agricultural production and
consumption purposes, loans made to non-farm rural firms, rural savings deposit services and
other financial services such as insurance.

Rural economy growth generally depends on the funds from one interval to another to
understand the high-rise productivity in non-agriculture and agriculture areas. The interval gap
from sowing seeds to understanding the post-production revenue is comparatively long. Farmers
lend money from different fronts to match the primary investment on fertilisers, seeds, tools, and
other personal expenses.

Post-independence, traders and moneylenders took advantage of poor peasants and landless
workers by lending money to them at huge interest rates and also influencing their accounts and
trapping them.

In the year 1969, India started social banking and different agencies who could provide funds to
satisfy the requirements of rural credit. Later in the year 1982, National Bank for Agriculture and
Rural Development (NABARD) WILS formed as an apex body to regulate and organise all the
financial activities concerning the rural financial system.
This became more concrete when the Green Revolution came and changed the credit system of
the country, resulting in a productive lead of rural credit.

Today, rural banking includes a set of various financial institutions, particularly regional
rural banks (RRBs), cooperatives, commercial banks, self-help groups, and land development
banks. They assign sufficient credit at cheaper interest rates. Terminologies related to rural
finance should be defined to avoid ambiguities in understanding the whole concept of finance in
agriculture. In an attempt to be clear with terminology, we use the following definitions for the
financial sector to differentiate agricultural finance from rural finance.

There is a great deal of ambiguity among finance, rural finance, agricultural finance, and
microfinance. Finance is narrowly interpreted as capital in monetary form that is in terms of
funds lent or borrowed, normally for capital purposes, through financial markets or institutions.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
Rural finance, as defined by the World Bank, is the provision of a range of financial services
such as savings, credit, payments and insurance to rural individuals, households, and enterprises,
both farm and non-farm, on a sustainable basis. It includes financing for agriculture and agro
processing. Agricultural finance is defined as a subset of rural finance dedicated to financing
agricultural related activities such as input supply, production, distribution, wholesale,
processing and marketing. Agricultural finance is the economic study of the acquisition and use
of capital in agriculture. It deals with the supply of and demand for funds in the agricultural sector
of the economy. Knowledge of fundamental economic and management principles and analytical
procedures facilitates obtaining control over capital and using it efficiently.
Microfinance is the provision of financial services for poor and low income people and covers
the lower ends of both rural and agriculture finance. Financial analysis related to farm income,
repayment capacity, and risk management indicates the total amount of capital the farm business
can profitably and safely use. Information and knowledge on the legal aspects of borrowing,
leasing, and contractual arrangements helps the farmer select the means of acquiring and
controlling resources that will contribute most to the farming operation

Sources of Rural Credit in India

The availability of credit and generation of savings have been recognised as essential element in
the rural development strategy. Credit plays a crucial role in the modernisations of agriculture
but its role of fight against rural poverty has seldom been recognised. Financial institutions in
developing countries, whether public and private have shunned rural credit for various reasons
such as opportunity costs and low financial creditability. Further rural financial services have
mostly been controlled by rich farmers, who are able to use their large endowment base and
influence within the local power structure to secure loans at high advantaged, terms. Credit
policies are also generally concentrated on land based agricultural production programmes,
neglecting off-far in activities in which the poor are mainly engaged. The rural poor men and
women, landless people artisans agricultural labourers, and small fishermen have mostly been
excluded from the financial services either because they were not available (collateral and
procedural requirements rendered them inaccessible) or simply because they were not conceded
creditworthy. The erroneous view is that the poor do not have any resources, do not save, and
that they cannot invest in view of immediate consumption needs, and that they are ignorant of
the basic principles of sound money management.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
Characteristics of Rural Credit

.-Not income but could lead to income if properly utilized

-Tangible and it is difficult to evaluate the impact of credit programmes.

-Tends to flow to borrowers - preference activity

-Absence of mutual confidence between borrowers and lenders leads to funds increase
the demand for credit. Credit-related rural development strategies have shifted focus
the rural disadvantaged due to the following factors Failure of past growth-oriented strategies
(trickle-down effect) leading to increase in poverty and income inequalities.

-Need for productive employment for rural labour, especially in off-farm and non- farm activities.

-Availability of appropriate technology leading to higher yields per hectare.

-Higher produce activates of small farmers per hectares vis-a-vis large farmers, thus enhancing
rural purchasing power so that increased agricultural profit can be used to buy goods and services,
provide more jobs etc.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
-The safest path to rural economic prosperity is through the continues improvement of
agricultural productivity without harming the environment.

Growth Scenario of Rural Credit in India

Access to financial services, particularly credit, has been a priority agenda for the Government
since the early days of Independence for all-round development of the economy, One of the
important steps in this measure was the revival of the cooperative credit structure in the mid-
1950s and the decades of the 1960s also continued to focus on institutional credit flows and
cooperatives. Following the nationalization of banks in 1969, the decade of the 1970s wat marked
by introduction of lead bank scheme and directed lending. In the decade of 1990s, there have
been many significant State initiatives in the institutional and policy spheres to facilitate access
to financial services by poor, downtrodden, dalits and tribals. The evolution of the Indian
Banking sector in India and its role towards the growth and development of the country has been
distinct and definitive (Ahuja: 2010).

If one looks chronologically at the events which have had a far-reaching impact on the Indian
rural credit system, the events prior to 1947 have been few. The few changes then were
introduced as a result of a deliberate policy by the authorities and not because of any ground level
requirements as such. Prior to 1947, the changes introduced were:

1793 Introduction of taccavi loans as a measure of administrative relief afte recurring famines.

> 1904 Introduction of a cooperative credit system based on the Raifessian model for providing
cheaper credit alternatives.

1928 Introduction of land mortgage banks in the cooperative system to provide for long-term
loans for redemption of debts to moneylenders.

> 1935 Creation of the Agricultural Credit Department in the Reserve Bank of India, a
revolutionary step undertaken for supervising agricultural credit operation.

After Independence, the benign and paternalistic attitude towards changes in Agricultural credit
policies continued but with more significant ideological inputs, which in retrospect did more
harm to the rural credit delivery system. The latter, through inadequate, was shaping up well
without any significant stress. But changes introduce after 1947 have been responsible for the
sad state of the rural credit delivery system, introducing in it a state of "forced growth" leading
to quick changes and policy "turnarounds These changes were due to the report of the;

1949-Rural Bankers Enquiry Committee. > 1954-All India Rural Credit Survey

1955-Formation of State Bank of India

> 1963-Agriculture Refinance Corporation set up - changed to ARDC

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
> (1975) and then to NABARD (1982)

< 1968-National Credit Council Study Group on Organizational Framework for Social

Objectives 1969-Rural Credit Review Committee, Nationalization of 14 largest banks

> 1971-Setting up of credit guarantee co-operation.

1972-Banking Commission

ン 1972-1975-Setting up of REC, SFDA

> 1975-Working Group on Rural Banks (RRBs)

>1980-Second time nationalisation of 6 banks

>1989-Agricultural Credit Review Committee

>1992-Report on the Financial System

> 1992-SHG-Bank linkage programme by NABARD

> 1996-97-Concept of local area bank was introduced

< 1998-R.V. Gupta Committee on Rural Credit

> 1998-Launching of KCC (Kisan credit card) by NABARD

> 2005 Establishment of Rural Infrastructure Development Fund (RIDF) to assist State
Governments/State owned corporations.

> 2006 Establishment of Committee on Financial Inclusion under the Chairmanship of Dr. C.
Rangarajan.

> 2008 Waiving of farm loans amounting to 65,000 crore.

> 2010 Successful listing of SKS Micro-finance in stock exchange.

Alternative Rural Credit Sources

There has been a growing realisation that the needs of rural credit cannot be adequately served
with the use of large financial institutions such as commercial banks. The micro- information
that is required for these operations precludes efficient market coverage on part of these large
organisations. Two kinds of policies can arise in response to this observation. One is to recognise

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
explicitly that informal lenders are much better placed to grant and recover loansfrom small
borrowers than formal institutions. The idea then is not to try to replace this form of lending but
to encourage it by expanding formal credit to economic agents who are likely to use these funds
in informal markets. The second approach is to actually design credit organisations at the micro-
level that will take advantage of local information in innovative ways. The following are the
important alternative rural credit institutions.

(1) SELF HELP GROUPS

Despite vast expansion of the formal sector credit system encompassing spheres of social and
mass banking, the dependence of the rural poor on money lenders still continues in many areas
especially in meeting their emergency needs. Under these circumstances, a non-formal agency
for credit supply to the poor, in the form of SHG emerged as a promising partner to the formal
credit system. These SHG inculcate saving and banking habits among the poor, secure them with
financial, technical and moral strengths. This also enables availing of loan for productive
purposes and repaying the same over a period of time. It also helps them to gain collective
wisdom in financial matters in organizing and managing their own finance. The SHG consists of
the members who are poor, having low saving capacity and who depend on money lenders or
private sources for meeting their consumption needs and other obligations. In other words a
typical SHG would comprise like minded individuals who regularly save small amounts of
money.

2. MICRO-FINANCE: Another alternative rural credit policy is micro finance system, Micro-
finance can be defined as provision of thrift, credit and other financial services and products of
very small amounts to the poor in rural, semi-urban areas for enabling them to raise their income
level and improve living standards. These days micro-financing programmes in emerging
economies have taken center stage of development effort. This Programme is targeting the
poorest of the poor.

Credit requirements of the rural poor are diverse and their requirements of credit are unlimited
because they need credit different purpose ie, credit as working capital, fixed capital and
consumption credit etc. But the sources available are limited and coverage is scanty. Failure both
institutional and non-institutional sources of credit to supplement credit needs of rural poor led
to the emergence of different Alternative credit institutions over the recent years. The necessity
of having alternative rural credit systems which will solve the problems of rural credit institutions
is clearly warranted. This study examined the success of the evolution of micro finance as an
alternative credit institution that solves the problems of moral hazard and adverse selection,
crucial problems of rural credit institutions. Many studies shown impact of micro- finance
programme on poverty, money lenders, women empowerment and living standards of the rural
poor. Micro-finance institutions are found to have characteristics that help to solve the problems
of moral hazard and adverse selection, which other institutions failed to do. Group lending, peer
monitoring and joint liability systems solve the adverse selection and moral hazard issues
associated with rural credit markets. The adverse selection problem in rural credit markes is that
the banks do not have proper information about the creditworthiness of the borrowers and
therefore, in order to mitigate the risk of default, they will increase interest rates. This has the

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
effect of excluding creditworthy borrowers from the scene. Another problem that exists in the
rural credit market is moral hazard. Banks get wrong information about the liabilities and assets
of borrowers and they may not have proper information about the profitability of the projects the
borrowers are going to undertake. Because of this moral hazard problem banks are reluctant to
provide loans to the poorer sections of the society. Under microfinance, the burrowers have to
form self-selected groups and have to save some amount before taking, loan from the micro-
finance institutions. Besides, this they have to sign a joint liability contract which says that
borrowers must repay their own loan and are also liable for the default of loan of any member of
the group. Thus the group members with their superior local information about the borrowers are
in a much better position to drive out risky borrowers from their group as they will try to choose
only trust worthy potential borrowers into their group. Thus these groups that are formed are in
a better position to repay their loans successfully. Thus lending to such groups which are jointly
liable reduces adverse selection problem in the credit market. Similarly it also solves the problem
of risky investments since there is peer monitoring. Joint Liability, Group Lending, Group
Pressure/peer monitoring made Microfinance as an alternative and superior rural credit institution
compared with the rest of rural credit systems/institutions. It has the advantages of both.

5.2 CREDIT COOPERATIVE SOCIETIES

Under the provisions of Section 5(ccii) of Banking Regulation Act, 1949 (AACS), a
cooperative credit society is defined as a cooperative society, "the primary object of which
is to provide financial accommodation to its members and includes a cooperative land
mortgage bank."

A credit society is a member-owned financial cooperative, democratically controlled by its

members. The Co-operative Credit Institutions in India can be classified as under a three-tier
structure Primary Credit Societies at the bottom; Central Co-operative Bank at the middle; and
State Co A credit union is a member-owned financial cooperative, democratically controlled by
its members, and operated for the purpose of promoting thrift, arranging credit at competitive
rates, and providing so many other financial services to its members.

The Co-operative Credit Institutions in India can be classified as under a three-tier structure.

(i) Primary Credit Societies at the bottom

(ii) Central Co-operative Bank at the middle

(iii) State Co-operative Bank at the top

The primary societies are functioning in the various towns and villages, the Central Banks at the
district headquarters and the State Co-operative Banks at the state capitals forming the apex of
the system.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
The Reserve Bank of India assists the co-operative structure by providing concessional finance
through NABARD in the form of General Lines of Credit for lending to agricultural and allied
activities. Thus, the whole system is integrated with the Banking structure of the country.

Let us have a discussion about these institutions one by one.

(1) The Primary Agricultural Credit Societies: A primary society is an association of

borrowers and non-borrowers residing in a particular locality and taking interest in the business
affairs of one another. As membership is practically open to all inhabitants of a locality, people
of different status are brought together into the common organization.
borrowers are going to undertake. Because of this moral hazard problem banks are reluctant to
provide loans to the poorer sections of the society. Under microfinance, the burrowers have to
form self-selected groups and have to save some amount before taking loan from the micro-
finance institutions. Besides, this they have to sign a joint liability contract which says that
borrowers must repay their own loan and are also liable for the default of loan of any member of
the group. Thus the group members with their superior local information about the borrowers are
in a much better position to drive out risky borrowers from their group as they will try to choose
only trust worthy potential borrowers into their group. Thus these groups that are formed are in
a better position to repay their loans successfully. Thus lending to such groups which are jointly
liable reduces adverse selection problem in the credit market. Similarly it also solves the problem
of risky investments since there is peer monitoring. Joint Liability, Group Lending, Group
Pressure/peer monitoring made Microfinance as an alternative and superior rural credit institution
compared with the rest of rural credit systems/institutions. It has the advantages of both.

5.2 CREDIT COOPERATIVE SOCIETIES

Under the provisions of Section 5(ccii) of Banking Regulation Act, 1949 (AACS),
cooperative credit society is defined as a cooperative society, "the primary object of which
is to provide financial accommodation to its members and includes a cooperative land
mortgage bank."

A credit society is a member-owned financial cooperative, democratically controlled by its

members. The Co-operative Credit Institutions in India can be classified as under a three-tier
structure Primary Credit Societies at the bottom; Central Co-operative Bank at the middle, and
State Co A credit union is a member-owned financial cooperative, democratically controlled by
its members, and operated for the purpose of promoting thrift, arranging credit at competitive
rates, and providing so many other financial services to its members.

The Co-operative Credit Institutions in India can be classified as under a three-tier structure.

(1) Primary Credit Societies at the bottom

(ii) Central Co-operative Bank at the middle

(iii) State Co-operative Bank at the top

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
The primary societies are functioning in the various towns and villages, the Central Banks at the
district headquarters and the State Co-operative Banks at the state capitals forming the apex of
the system.

The Reserve Bank of India assists the co-operative structure by providing concessional finance
through NABARD in the form of General Lines of Credit for lending to agricultural and

allied activities. Thus, the whole system is integrated with the Banking structure of the country.

Let us have a discussion about these institutions one by one.

(i) The Primary Agricultural Credit Societies: A primary society is an association of

borrowers and non-borrowers residing in a particular locality and taking interest in the business
affairs of one another. As membership is practically open to all inhabitants of a locality, people
of different status are brought together into the common organisation.
(ii) Central Co-operative Banks: A Central Co-operative Bank is a federation of primary
societies in a specified area. Where membership of a Central Co-operative Bank is restricted to
primary societies only, it is known as a banking union'. Nowadays, individuals are also admitted
as members of almost all Central Co-operative Banks.

(iii) State Co-operative Banks: At the top of the co-operative banking, there are State Co-
operative Banks, organized with the object of attracting deposits from the rich urban classes.
These Banks are also more suitably equipped to serve as channel between the co-operative
movement and the joint stock banks.

Characteristics of Cooperative Societies

-Cooperative societies follow democratic principles of equality. It is made for mutual help in
the first place. People who are not financially stable can become a part of these cooperatives and
head towards a common goal. Some characteristics of cooperative societies in India are stated
below.
-Voluntary Formation and Participation: Becoming a member of a cooperative is very easy
and free. Entry into and exit from a cooperative society is a voluntary process.

-One vote per member. As we said, cooperatives run on principles of democracy. Every
cooperative has a head managing committee, members of which are elected by common
members.

-Independent body: A registered cooperative society is recognised as an independent

entity by the government of India. It can make its own decisions for the benefit of its
members.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
-Mutual benefit: Cooperatives are always advantageous for people from the middle and low-
income brackets. They help each other achieve higher profits than their normal incomes and
establish mutual trust among them.

-No financial risks: Cooperatives operate mainly on the basis of cash and direct transactions.
Credits, except financial cooperatives, are not provided by others. This protects them from losses
due to bad loans. Hence we can say cooperatives are a good option to avoid financial risks.

-Objective: The principal aim of cooperative societies is to help people tide through financial
situations and gather support and assistance from nearby communities. This strengthens
community relationships.

-Distribution of Profits: The surplus produce or profits generated in the cooperative sector is
distributed amongst its members rightfully according to their shares.

-Professional Management: All cooperatives are supposed to be managed awfully and

professionally. Audits must be performed periodically. The regulation is under a central
Registrar.

Types of Credit Cooperative society

Co-operative society

[Link] Co-operative Society: -Agricultural -Non Agricultural

2. Non Credit Co-operative Society: Agricultural Non Agricultural

Cooperative Credit: An Evaluation

The major deficiencies in the working of the cooperative credit societies are as follows:

-The essence or basic features of cooperative banking system must be a larger reliance on
resources mobilized locally and a lesser and lesser dependence on higher credit institutions.
However, many PACSs are at present dependent on CCBs and have failed miserably in
mobilizing rural savings. Heavy dependence on outside funds has, on the one hand, made the
members less vigilant not treating these funds as their own and on the other led to greater outside
interference and control. Overall, this has made the cooperatives a "mediocre, inefficient and
static system".

-The cooperative credit institutions are plagued by the problem of high level of over- dues. These
over-dues have clogged the process of credit recycling since they have substantially reduced the
capacity of cooperatives to grant loans.

-The rural cooperative institutions have a high level of NPAS

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
-A large number of rural cooperative credit institutions have incurred substantial losses.

-The Primary Agricultural Credit Societies is the most important link in the short-term
cooperative credit structure. However, most of them are too small in size to be economical and
viable. Besides, several of them are also dormant while some are defunct.

-Because of their strong socio-economic position and grip over the rural economy, big
landowners have cornered greater benefits from cooperatives. This is the opposite of what the
planners intended.

-There are considerable regional disparities in the distribution of credit by cooperative societies
with six States (Gujarat, Maharashtra, Karnataka, Kerala, Punjab and Tamil Nadu) accounting
for 70 per cent of the short-term loans provided by the PACSs as of end-March 2010.

-The powers which vest in the government under the cooperative laws and rules are all-pervasive.
Over the years, State has come to gain almost total financial and administrative control over the
cooperatives, in the process stifling their growth. Instead of strengthening the base, a weak base
was vastly expanded as per plan targets and an immense governmental and semi-governmental
superstructure was created.
The credit cooperative society registration is not a lengthy procedure. You can easily
connect to the registrars for the commencement of the credit cooperative society. It is beneficial
for the society they can easily get loans and credits for growing their standard of living. Credis
cooperative society registration plays an important role in the efficient and smooth working of
the co-operative society.

5.3 REGIONAL RURAL BANKS (RRBS)

RRB are government owned scheduled commercial banks of India that operate at regional
level in different states of India. These banks are under the ownership of Ministry of
Finance, Government of India. They were created to serve rural areas with basic banking
and financial services. However, RRBs also have urban branches.

The banking sector in India is flourishing with a large and wide account holder base. Back
in the late 20th century, banking was not equally distributed. It was more accessible to the
urban population.

To bridge this gap between the economic development of urban and rural areas of India, Regional
Rural Banks were established. The area of operation is limited to the area notified by the
government of India covering, and it covers one or more districts in the State. RRBs perform
various functions such as providing banking facilities to rural and semi-urban areas, carrying out
government operations like disbursement of wages of MGNREGA workers and distribution of
pensions, providing para-banking facilities like locker facilities, debit and credit cards, mobile
banking, internet banking, and UPI services.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
Regional Rural Banks were established under the provisions of an ordinance passed on 26
September 1975 and the RRB Act 1976 to provide sufficient banking and credit facility for
agriculture and other rural sectors. As a result, five RRBs were set up on 2 October 1975 on the
recommendations of the Narasimham Committee on Rural Credit, during the tenure of Indira
Gandhi's government. The purpose was to include rural areas into the economic mainstream since
around 70% of the Indian population was rural.

Prathama Bank, with head office in Moradabad, Uttar Pradesh was the first RRB. It was
sponsored by Syndicate Bank and had an authorized capital of 5 crore. The other four RRBs were
Gaur Gramin Bank (sponsored by UCO Bank), Gorakhpur Kshetriya Gramin Bank (sponsored
by State Bank of India), Haryana Kshetriya Gramin Bank (sponsored by Punjab National Bank),
and Jaipur-Nagaur Aanchalik Gramin Bank (sponsored by UCO Bank).

The RRBs were owned by the Central government, state government, and the sponsoring bank
with 50%, 15%, and 35% shareholding respectively.

Regional Rural Banks are a type of commercial banks in India. These have the characteristics of
both commercial banks and cooperative societies. Let's look at in detail about ownership.
functions, and regulation of Regional Rural Banks in India.

Ownership and Sponsorship: The ownership of shares of Regional Rural Banks in India is divided
among the Central Government, State government, and the sponsoring banks:

-Central Government-50%

-Sponsor banks-35%

-State government-15%
The sponsor bank helps the growth of an RRB by providing trainings to the staff of an RRB,
providing management consultations to the bank for a minimum period of 5 years.

A brief history of Regional Rural Banks in India

The Narasimhan Committee on Rural Credit under the rule of PM Indira Gandhi made certain
recommendations for formation of RRBs, which would be beneficial for the rural population as
compared to commercial banks.

An Ordinance for the establishment of Regional Rural Banks was passed on September 26, 1975,
this being the date of establishment of RRBs.

The Regional Rural Banks Act (RRB Act) was passed in 1976.

Five RRBs were first established on the occasion of Gandhi Jayanti, on October 2nd, 1975. Later,
many RRBs were established by the Government of India and respective state governments.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
The RRB Act 1976 states the functions of RRBs to provide financial assistance to farmers,
Medium and Small Enterprises (MSMEs), local craftsmen and artisans, for agriculture,
industries, trade, commerce, and their economic development. 25 RRBs were established within
a year from the passing of this Act. There are currently 43 Regional Rural Banks in India.

Importance of Regional Rural Banks

-Reduce rural and urban gap by mobilizing financial resources and services to rural regions.

-Regional Rural Banks pave the way for inclusion of the marginal population like small farmers,
Below Poverty Line (BPL) farmers and workers, small entrepreneurs, artisans, women, etc.

-Regional Rural Banks assist rural businesses by providing them short-term loans, insurance
facilities, etc., and help to improve the role of entrepreneurship in rural areas.

-Providing assistance like loans, advances, insurance to agriculturists for farming inputs,
equipment, processing, marketing activities, and cooperative societies helps in the growth of
agriculture and the advancement of farmers.

-Many public and private sector banks do not deal with farmers and rural section due to their
small financial needs, fewer incomes, etc. In such a case, there is a need for a separate banking
system to protect the interests of these sectors.

-The RRBs look forward to covering underserved rural areas in terms of financial services and
extending credit assistance.

-Help in the growth of cooperative societies, agricultural societies, etc.

-RRBs reduce farmers' and the weaker sections' dependence on traditional sources like
moneylenders who exploited them with a high rate of interests on loans.

-Objectives: The objective of regional rural banks is to develop the rural economy by providing
credit and other facilities for agriculture and other productive activities in rural areas. They
provide these facilities to small and marginal farmers, rural artisans, agricultural labourer's and
other small entrepreneurs working in the rural areas.

The objectives of RRBs can be summarized as follows:

-To cater to the needs of the backward areas which are not covered by the other efforts of the
Government?

-To develop underdeveloped regions and thereby strive to remove economic disparity between
regions.

-To increase employment opportunities by encouraging trade and commerce in rural areas.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
Features of RRBs

-The area of operation of a rural bank is limited to a specified region which comprises of one or
more districts.

-These banks cannot have a lending rate which is higher than the prevailing lending rate of
cooperative credit societies in any particular state.

-The salary structure of the employees of these banks is fixed in consonance with the salary
structure of the employees of the state government, local authorities of comparable level and
status in the area.

-They are public sector banks. The paid-up capital of each bank is 25 lakhs. 50 per cent of the
capital is contributed by the Central Government. The concerned state government contributes
15 per cent. 35 per cent is contributed by the sponsoring public-sector commercial banks.

-It grants loans and advance only to the small and marginal farmers, agricultural labourer's, small
traders entrepreneurs.

-This is sponsored bank. It is sponsored by a scheduled commercial bank.

-The RRB charges interest rates as adopted by the co-operative society in the state.

Functions of Regional Rural Banks

Since a Regional Rural Bank is a Scheduled Commercial Bank, its primary functions are to accept
deposits and to disburse loans. The important functions of Regional Rural Banks are
discussed below:

1. Accept Deposits

-RRBs accept deposits from their members who hold an account in the bank.
-Deposits can be made in current or savings accounts.
-Depositors can also be made in fixed or recurring forms.

2. Loan Extension

-The RRB Act of 1975 states that the RRB can extend loans and credit services to the Priority
Sector (PS). The loans to this sector are classified under PSL or Priority Sector Lending. The
RBI announced the coverage of RBBs in PSL from FY 1997.

-The priority sector comprises of small and marginal farmers, craftsmen and artisans, local
traders, medium and small scale businesses, education, housing, renewable energy, etc. which
needs development and financial investment

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
75% of the total Bank Credit has to be provided to the Priority Lending Sector. Out of this total
credit, 10% has to be given to the economically weaker sections.

Hence, short-term loans on a low rate of interest are extended by these banks to the priority
sector. RRBs cannot, however, extend large or long-term loans to its customers.

3. Wage disbursement

The Regional Rural Banks in India perform the important function of distribution of wages under
the MGNREGA (Mahatma Gandhi National Rural Employment

Guarantee Act), the Pradhan Mantri Gram Sadak Yojana (PMGSY). The pensions provided
under the poverty alleviation schemes and pension schemes of India are also distributed through
these banks.

4. Secondary functions of RRBs

Similar to commercial banks, the secondary functions of the Regional Rural Banks in India are
providing agency services and general utility services to their customers.

Agency services like foreign exchange, bill payments, money wire transfer, etc. are performed
by RRBs.

Utility services like ATM, UPI, issuance of debit cards, locker facilities, etc. are also provided
by RRBs in India.

Regulation of the Regional Rural Banks in India

1. Reserve Bank of India: The RBI Act 1934 and the Banking Regulation Act 1949 are two
principal regulating statutes for commercial banks in India.

2. NABARD:

It stands for National Bank for Agricultural and Rural Development of India is the chief
body for regulating rural banking sector in India.

NABARD was established on July 12, 1982, by the RBI with an objective to improve the
credit flow concentrated in the urban areas to the rural and semi-urban areas of India.

Its major functions are monitoring, policy making, planning the activities and credit system of
the rural banks.

NABARD also helps rural banks in their development and supervises their activities on a timely
basis.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
These banks have suffered from the following problems:

Their earning capacity remains low due to various kinds of restrictions placed upon them by the
government regarding their working and operations.

The regional rural banks' operations remain very limited, which acts as a

geographical barrier for them. They face problems in recovery of the money due to them.

They suffer from capital inadequacy.

Conclusion: Regional Rural Banks intend to provide credit facilities to the rural and semi- urban
sectors. They have helped the government with their idea to help rural India with their financial
needs and also to give effect to various government schemes.

5.4 ROLE OF NABARD

NABARD is to work as a banker of the bank for agriculture and rural credit. It inspecta district
and state cooperative banks and regional rural banks.
It refinances institutions Nabard provides refinance to state cooperative banks, regional rural
banks, and other rural Financial Institutions.

NABARD provides by way of refinance, loans and advances repayable on demand or on the
expiry of fixed period not exceeding 12 months, to Cooperative Banks and Regional Rural Banks
for production, marketing and procurement activities.
The basic objective of short-term refinance provision is to supplement the resources of banks
and to improve credit flow at the ground level.

NABARD provides long-term and medium-term refinance to the various institutions to

supplement their resources for providing adequate credit for supporting investment activities of
farmers and rural artisans, etc.

Financial Institutions

Refinance: NABARD disbursed 1,30,964 crore and 92,786 crore for supporting ST and LT
financing by banks, respectively, during the year 2020-21.

NABARD provides by way of refinance, loans and advances repayable on demand or on the
expiry of fixed period not exceeding 12 months, to Cooperative Banks and Regional Rural Banks
for production, marketing and procurement activities. The basic objective of short-term refinance
provision is to supplement the resources of banks and to improve credit flow at the ground level.

NABARD provides long-term and medium-term refinance to the various institutions to

supplement their resources for providing adequate credit for supporting investment activities of
farmers and rural artisans etc.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
Short term Loan: Crop loans are extended to farmers for crop production by financial institutions,
which support in ensuring food security in the country. During the year 2020-21, NABARD has
disbursed 95,731 crore for Seasonal Agricultural Operations and 11,733 crore for other than
seasonal agriculture operations to Cooperative Banks and RRBs.

NABARD also introduced a new window of assistance to SFBs and under this facility Short
Term Refinance of ₹49 crore was extended to North East SFB

Long Term Loans: NABARD's long-term refinance provides credit to financial institutions for a
wide gamut of activities encompassing farm and non-farm activities with tenor of 18 months to
more than 5 years. During the year 2020-21, NABARD has disbursed 92,786 crore to financial
institutions.

To address to the issue of rural migration and give boost to agriculture and rural sector post Covid
period, NABARD introduced 4 special refinance schemes viz. Scheme for PACS as MSC,
Scheme for beneficiaries of the watershed as well as Wadi project areas, Scheme for Water,

Sanitation and Hygiene (WASH) and scheme for micro food processing activities. Government
of India has set up LTRCF with NABARD for providing long term refinance support for
investment credit in agriculture activities exclusively for Cooperative Banks (StateCooperative
Banks and State Cooperative Agriculture and Rural Development Banks) and Regional Rural
Banks (RRBs). During the year 2020-21, Develop488nks) and disbursed under the fund.

Special liquidity Facility: NABARD has disbursed 16800 crore to Cooperative Banks, 16700
crore to RRBs and ₹2000 crore to NBFC-MFIs to ensure unhindered flow of credit to farmers to
carry out harvesting and production activities during lockdown due to which India outperformed
in Agriculture production even during lockdown.

NABARD provided additional SLF of 1567 crore to NBFC-MFIs with asset size less than ₹500
crore. SLF was also extended to eligible SCARDBs taking into account the liquidity crunch faced
by them in the wake of Covid-19 pandemic. As on 31 March 2021, ₹908.16 crore has been
disbursed to SCARDBs in 5 States under this line of credit.

Credit Facility to Federations (CFF)

Credit facility to Federations (CFF) provides short-term credit support to state government
entities like agricultural marketing federations, civil supply corporations, dairy cooperatives,
/milk unions or federations etc., for procurement, processing and marketing of agricultural
commodities, input supply, and value and supply chain management. Under this facility, credit
support is made available for procurement of food grains, pulses and oilseeds and other
agricultural commodities like milk. The facility is also available for procurement and marketing
of agricultural inputs like seed and fertilizer. This facility is extended as short-term loan for a
period of twelve months and another product in the nature of a very short term loan for three
months to meet the specific requirements of the agencies.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
Sanctions under CFF, has registered a growth of 60% i.e. from 25071 crore in FY 2019-20 to
240160 crore during FY 2020-21. Sanctions were made to 14 agencies, out of which were new
clients. The new activities financed were seed processing and procurement of coarse grains. The
disbursements under CFF has increased by 29% from 237206.56 crore during FY 2019-20 to
47852.62 crore during FY 2020-21. The outstanding position as on 31 March 2021 was 20038.21
crore against 12123.24 crore as on 31 March 2020, which is an increase by 65%. The 5-year
CAGR of sanctions, disbursements and outstanding under CFF was 45%, 47% and 32%
respectively.

Marketing Initiatives

To support rural producers in the farm and off-farm sector to market their produce effectively,
NABARD has been extending support for setting up of Rural Haats, Rural Marts and
participation of artisans and craftsmen in National/Regional level Exhibitions and Melas.

Rural Haats

Rural Haats have been vital to the lives of rural communities by providing them accessible market
place to buy and sell their farm and off-farm produce. Rural Haats have emerged as an effective
marketing link for Producer Organisations, Village Watershed and Tribal Development
Committees. NABARD support to Rural Haats is towards infrastructure creation like raised
platforms, roofing, drinking water facility, Sanitation etc. During 2020-21, a total of 58 Rural
Haats has been sanctioned with a grant support of ₹7.6 crore. As on 31 March 2021, 636 Rural
Haats have been supported with grant assistance of ₹54.23 crore.

Rural Marts

Rural Marts help to promote entrepreneurship amongst producer communities and provide
market link for domestic products manufactured by rural community particularly women and
weaker sections. It helps in generating income and employment at grassroot level. During 2020.
21, 155 Rural Marts have been sanctioned with a grant support of 7.6 crore. As on 31 March
2021, 1,085 Rural Marts have been supported with grant assistance of ₹23.2 crore.

Other Farming Schemes Introduced under NABARD

Agri-clinic and Agribusiness Centres Scheme

National Livestock Mission

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
GSS-Ensuring End-Use of Subsidy

Interest Subvention Scheme

Credit-Linked Capital Subsidy Scheme (CLCSS) under NABARD

Capital Investment Subsidy Scheme for commercial production units for organic/biological
inputs.

The Credit-Linked Subsidy Scheme is yet another scheme launched in 2000 to facilitate the
upgradation of small-scale industries (SSIs) units. These units must be included in the sub-sectors
as defined under the scheme. NABARD has majorly contributed to promoting India's agricultural
and rural development through consistent support. The support is extended through financial and
non-financial systems, and the schemes are typically provided by rural cooperative banks and
regional rural banks. Other business segments that can avail of these benefits include agricultural
farmers, fish farmers, cattle farmers, and more.

Conclusion: The policies by the government for the betterment of rural infrastructure and lifestyle
development are highlighted in the article. NABARD is a government apex organisation
regulated by the Ministry of Finance and finance by RBI. NABARD was formed to save the poor
from exploitation and provide low-interest rate loans to promote business in every house for
financial independence. The government believes that healthy economic development lies in the
hands of the rural and urban populations. NABARD has become the backbone of the rural
funding system and formed various banks across the country for unlimited support and growth.

5.4 ROLE OF MICROFINANCE INSTITUTION

Microfinance in India plays a major role in the development of India. It acts as an anti-
poverty vaccine for the people living in rural areas. It aims at assisting communities of the

economically excluded to achieve greater level of asset creation and income security at the
household and community level. Microfinance institutions (MFIs) are financial companies
that provide small loans to people who do not have any access to banking facilities. The
definition of "small loans" varies between countries. In India, all loans that are below 1
lakh can be considered as microloans.

Microfinance Institutions (MFIs): Microfinance Institutions have been gaining popularity in

recent years and are considered as an effective tool to uplift underdeveloped areas and low-
income individuals. They generally run on the concept of joint liability, i.e. an informal group
of4-15 individuals who seek loans either jointly or individually. These loans are typically taken
for agricultural or associated activities. Due to low security and increasing operating costs, many
traditional banks were not willing to provide loans to the poor in India. This led to the
development and growth of microfinance institutions in the country. They worked as an
alternative, with an aim to create financial equality. In India, there are two channels through
which microfinance operates:

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
The microfinance institutions lend through the concept of Joint Liability Group (JLG). JLGs are
a group of 5-10 members who join hands to avail of a bank loan, either individually, or
collectively. The loan is provided against a mutual guarantee.

Goals of Microfinance Institutions

Microfinance institutions have been gaining popularity in the recent years and are now
considered as effective tools for alleviating poverty. The primary goals of microfinance
institutions are the following:

1. Transform into a financial institution that assists in the development of communities that are
sustainable.

2. Help in the provision of resources that offer support to the lower sections of the society. There
is special focus on women in this regard, as they have emerged successful in setting up income
generation enterprises.

3. Evaluate the options available to help eradicate poverty at a faster rate.

4. Mobilise self-employment opportunities for the underprivileged.

5. Empowering rural people by training them in simple skills so that they are capable of setting
up income generation businesses.

The top 10 microfinance institutions in India are:

1. Annapurna Microfinance Pvt. Ltd.

2. Arohan Financial Services Pvt. Ltd.

3. Asirvad Microfinance Pvt. Ltd.

4. Bandhan Financial Services Pvt. Ltd.

5. BSS Microfinance Pvt. Ltd.

6. Cashpor Micro Credit

7. Disha Microfin Pvt. Ltd.

8. Equitas Microfinance Pvt. Ltd.

9. ESAF Microfinance and Investments Pvt. Ltd.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
10. Fusion Microfinance Pvt. Ltd.

Contribution of Microfinance Institutions towards Rural credit

Microfinance institutions (MFIs) are financial companies that provide small loans to people who
do not have any access to banking facilities.

In India, a microfinance loan is defined as a collateral-free loan given to a householdhaving an

annual income of up to Rs 3 lakh. (Recently revised by RBI. Earlier it was 1 Lakh)

Example of MFIs: Bandhan Bank Limited, Ujjivan Small Finance Bank, Annapurna Finance Pvt.
Ltd, Muthoot Microfin Limited, Credit Access Grameen Limited Sonata Finance Private Limited
etc.

The different types of institutions that offer microfinance are:

1. Credit unions

2. Non-governmental organisations

3. Commercial banks

Groups Organised by Microfinance Institutions in India

There are several types of groups organised by microfinance institutions for offering credit,
insurance, and financial training to the rural population in India:

1. Joint Liability Group (JLG): This is usually an informal group that consists of 4-10 individuals
who seek loans against mutual guarantee. The loans are usually taken for agricultural purposes
or associated activities. Farmers, rural workers, and tenants fall into this category of borrowers.
Each individual in a JLG is equally responsible for the loan repayment in a timely manner. This
institution does not need any financial administration, as it is simple in nature.

2. Self Help Group (SHG)

A Self-Help Group is a group of individuals with similar socio-economic backgrounds.

These small entrepreneurs come together for a short duration and create a common fund for their
business needs. These groups are classified as non-profit organisations. The group takes care of
the debt recovery.

There is no requirement of a collateral in this kind of group lending. The interest rates are
generally low as well.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management
Several banks have had tie-ups with SHGs with a vision to improve financial inclusion in the
rural parts is noteworthy in this regard, as several Self Help Groups are able to borrow money
from banks if they are able to present a track record of diligent repayments.

3. Grameen Model Bank

The Grameen Model was the brainchild of Nobel Laureate Prof. Muhammad Yunus in
Bangladesh in the 1970s.

It has inspired the creation of Regional Rural Banks (RRBs) in India.

The primary motive of this system is the end-to-end development of the rural economy.

However, in India, SHGs have been more successful as MFIs when compared to Grameen Banks

ROLE OF NABARD
1. Providing refinance to lending Institutions in rural areas
2. Bringing about or promoting institutional development and
3. Evaluating, monitoring and inspecting the client banks
[Link] as a coordinator in the operations of rural credit institutions
[Link] assistance to the government, the Reserve Barik of India and other organizations in
matters relating to rural development.
[Link] training and research facilities for banks, cooperatives and organizations working in the
field of rural development
7. Helps the State Governments in reaching their targets of providing assistance to eligible
institutions in agriculture and rural development.

Anil Murthy V, M. Com, MBA, KSET (COM & MNGT) (Ph.D.)

Assistant professor, Dept of Commerce & Management