Banking facilities will improve in Bihar in the new year,

Banking facilities will improve in Bihar in the new year,

Banking facilities in Bihar are expected to improve in the new year. There will be an increase in the number of bank branches in the state. Banks do not even have to find places to increase branches. The state government is also ready to provide them buildings to open a branch. A list of 1078 panchayat government buildings has also been made available to the banks by the government. With the opening of these branches, banking facilities will be extended to all the remote areas of the state.

Talking about the banking sector in Bihar, as of June 30 this year, the number of bank branches in the state is 7620. It consists of rural, semi-urban and urban branches. According to these branches, there is one bank branch per sixteen thousand population of the state. While the national average is of a bank branch at a population of 11 thousand. On the other hand, if we talk about branches of commercial banks only, then in March 2019 their number was 6917 in the state. Then a branch averaged 17 thousand 241 people.

Government increased pressure on banks

Every year the state government instructs banks to increase the number of bank branches and ATMs. Pressure is created on them. But it has not been able to achieve much success in the past years. Banks have been citing other problems including building. To solve this problem, the government has now decided to provide the building of Panchayat Sarkar Bhavan for opening bank branches. A list of 1078 panchayat government buildings across the state has been made available to banks through the State Level Bankers’ Committee. By doing so, the government has increased the pressure on banks to open branches.

Average will improve in Bihar if 1078 branches are opened

The total number of branches of all types of banks in Bihar is 7620. According to this, a branch is on average 16 thousand people. If new branches are opened in 1078 panchayat government buildings in the state then the average will improve. Then there will be a bank branch for 13 thousand 711 people in the state.

Status of commercial bank branches in five major states of the country

According to the Reserve Bank of India’s data as of March 2019, the situation of Punjab is much better in the country in terms of banking facilities. Five developed in the country according to commercial bank branches






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