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Impact of Odisha Gramya Bankon Socio-economic Development of Beneficiaries: A Case Study of Balasore and Bhadrak District of Odisha

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Biologically Inspired Techniques in Many Criteria Decision Making

Part of the book series: Smart Innovation, Systems and Technologies ((SIST,volume 271))

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Abstract

Indian economy is based on rural in character. After economic reform process, rural India has witnessed the increasing trend in purchasing power of people, income level, literacy, irrigation, infrastructure, technology and telecommunication facility and standard of living also. RBI and Govt. of India have jointly taken the economic bold step for formation of Regional Rural Banks (RRBs), RRBs were set to provide the basic banking and financial services to needy and poor rural people in India. The main objective of RRBs is to mobile the funds from customer and allocate these mobilizations in the form of loan and advance mainly to marginal farmers, agricultural labourers, rural artisans, etc. to meet their financial requirements to develop the rural sectors and also to have the socio-economic development of needy and poor rural people. The rural people face the problem of indebtedness, getting credit and many more. Needy and poor rural people need the credit/loan for agriculture and allied sectors. Rural people need to access the financial institutions that can provide them with credit/loan at lower rate of interest with reasonable terms and conditions. Hence, RRBs can fulfil the credit gap and other gaps also of needy and poor rural people. As we know, 2/3rd people live in rural India. RRBs are the rural banks for the rural people. Odisha Gramya Bank (OGB) is a RRB. Here, an attempt has been made to measure the role played by OGB towards socio-economic development of beneficiaries of Balasore and Bhadrak District of Odisha. The present study has taken both primary and secondary data.

The Future of India lies in its Village

—Mahatma Gandhi

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Author information

Authors and Affiliations

  1. ICSSR Sponsored Major Research Project (MRP), Department of Business Management, Fakir Mohan University, Vyasa Vihar, Balasore, Odisha, India

    Artta Bandhu Jena & Debadutta Nayak

Authors
  1. Artta Bandhu Jena
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  2. Debadutta Nayak
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Editor information

Editors and Affiliations

  1. Fakir Mohan University, Balasore, Odisha, India

    Satchidananda Dehuri

  2. KIIT Deemed to be University, Bhubaneswar, Odisha, India

    Bhabani Shankar Prasad Mishra

  3. KIIT Deemed to be University, Bhubaneswar, India

    Pradeep Kumar Mallick

  4. Yonsei University, Seoul, Korea (Republic of)

    Sung-Bae Cho

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Jena, A.B., Nayak, D. (2022). Impact of Odisha Gramya Bankon Socio-economic Development of Beneficiaries: A Case Study of Balasore and Bhadrak District of Odisha. In: Dehuri, S., Prasad Mishra, B.S., Mallick, P.K., Cho, SB. (eds) Biologically Inspired Techniques in Many Criteria Decision Making. Smart Innovation, Systems and Technologies, vol 271. Springer, Singapore. https://doi.org/10.1007/978-981-16-8739-6_40

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