Vol. 2, Issue 10 (2015)
Rural Banking, its evolution and implications for marketers
Author(s): Udit Sharma
Abstract: In order to achieve balanced and sustainable growth over the long term for emerging market economies, rural banking and microfinance are the key issues to be addressed. Rural banking in India started with mail focus on agriculture sector, as rural poor are overwhelmingly dependent on agriculture as their primary source of income. Today, marketers are trying to tap the rural in the form of ‘emerging consumer base’ or ‘the next battle field’ for survival as well as growth; government organizations are looking at rural for poverty eradication and up-liftmen of living standards. How it has evolved over the period of time, which tools have been developed for this sector specifically, which out of them have been fruitful and which ones not, and how marketers are looking at this potential market in future, has been discussed in this paper.