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Canara Bank As a Financing Agency for Rural Development of Aligarh District

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Canara Bank As a Financing Agency for Rural Development of Aligarh District CANARA BANK AS A FINANCING AGENCY FOR RURAL DEVELOPMENT OF ALIGARH DISTRICT DISSERTATION SUBMITTED IN PARTIAL FULFILMENT FOR THE AWARD OF THE DEGREE OF Mnittv of ^l)iIo2iOp]^p IN COMMERCE BY RAIS AHMAD I'nder the Supervision of Professor Sami Uddin Chairman M. A, M. Com., Ph. D., D. Litt. DEPARTMENT OF COMMERCE ALIGARH MUSLIM UNIVERSITY ALIGARH (INDIA) 1989 •k( Ace c V I' ?' ^>J /6 3 I ,'J %l (s,*- \ DS1631 COWTETJTS P^g* NTo. ACK !»OVLEDGEME NT ( 1) INTFODUCTIOV (iv) CH^tfTER I CONCEPT OF PURAL DBVELOPMENT AND 1 - kS ECONOMIC CONDITION OF ALIGAHH DISTRICT CHAPTER II THE LEAD BA** SCHEME - AIMS AND OBJECTIVES - 65 CHAPTER III CANARA BAItC - A HISTORICAL SCETCH, 66 - 89 PERFORMANCE AND PROGRESS OF CANARA BA^if. ALIGARH. CHAPTER IV ROLE OF CANARA BAWC AND OTHER NATIONALISED - 111 BANKS IV PROVTDINS FINANCE FOR RURAL DEVELOPWFNT IN ALIGARH DISTRICT OHAPTEP V PROBLEMS FACED BY BA!«S IN PROVIDING ll2 - I30 FINANCE FOR RURAL DEVELOPMENT OF ALIGARH DISTRICT CHAPTER VI SUMMARY, CONCLUSION AND SUGGESTIONS 131 - U7 BIBLIOGRAPHY US - I50 APPENDIXES 151 . 162 ACK NOWLBDOIMIHTS This study has hmen coinpl«»ted utjder the •upenrlslon and able ^Idanc* of Dr« Bmm± Uddln, Prof«s»or «nd Chmirtemr.t ?^ttpartiii*nt of Conw^rott, All^farh Mu-liw tfnlv«>r«ltyt Alifrarh. Tt is r^mlly a matter of prld» to worV undor such n iir»9it scholrtr of Intornational r«put« In th* flald of Rntr«pr«n«Mr«hips Cooperation and Rural Dwralopwcn*. *re vordv would aufflea to axproaa ny doop ••»§• of «rr«tl- tudo to him, bocaut** hla inraluablo fruldancaf valuable Bu#r«ra«tiona and •nooara^aMant at aTary etaira of tha vorV hava anablad ma to oonplata thia projaet* Ha provldad oa tha opportunity and llbarty of ancroachin^ upon his praci- ous tlma and alao allowad ma to uea his pergonal library. Tha tralninp which T wa» provldad by hl» duri iig tha eouraa of study will eontlnua to ba a aourca of Inapiratlon to aa in ^y Itfm* I feel proud In axprasaini^ «y profound frratl- tuda to hiai. Prof« I.H. Farooqi, Prof* Hablbur Rahnan, Prof. Vafia Baifr and Prof. Abdul Farooq Khan, Dapartaant of Commarca hava baan a g^raat aourca of ancoura^anant to ma. T owa my f^ratitudas to than. ( li ) I mm gr«sitly obllff«d to T)r* M«hfo»sur lt«lMian who alwajre •jrt«nd*d hla h*lplnir taftnd* vhmixfrmT T fao«d mnf difficulty in th« oonpl«tion of thl* project. *" an hl*hly thankful to 'Or. ''^atjdrlli F hP.lriowala, P»8v?«r, ^«»T«»rtine'r!t of Coreni©rc#», *WT, Allpnrh fnr c^nK- tjjntlv frnoiifBeinp m« end ff|Mt-nd1n^ hlf* vtlup'^ ^0 tim# to (pii1.-*» w^ and helT>f»j1 sufr*r«»tii^n« mad« bv Mw In coirpl^t- Inr Bry wnrV, T^ take thiB op;-)©!"^unity to ©xpreefc my profound fr^titudef" to T»rof. Mehmudl Haquw, Bean, Faculty oi Social fci*nc«»s ftr»i Chairman, Cetitra of Vest Aaian Studias, AMU, Allrarh and Prof. M.A. SalermKhan, (Ex-Chairman) Cantr* of Veiit Asian Gt«dia», who w«r«> kirKl «cou(irh In |rrantin# leav«^ to i»« from th0 Cantra to parsua this couraa. I vould alao Ilka to axpraas ny fealin^ of ^reat fulnasa to all of my taaehare and staff of tha dapartisant who always ancourajrad as durin# tha work. T would Ilka to plaea on racord aiy Sanaa of appraolatloQ to all thosa who axtandad th»ir cooperation to sa* T am fn*aatly thankful to Mr. Prabhu, Divisional Mana^far, Wr. Var^hnay, Lend Partk Officer, Canara "Pank, All|rarh, Mr. Prav«an Kumar Sin^h, Asstt. Stntif^tical Offlcar, P.I^.D.A., Allfrarh and Mr. Kwdar Nfath Varwa, Af'nlstant Economic and ( 111 ) Statlstioc Officer, Allifarh (tf, P. ) for prorldlnir data nec«««®r^ in the comp1«tie?> of' thl» v»>rit, '* esa aluo t ^lankiYil to Prof. '*?oorul Hnmfkr*^ Vn±-¥^rvity Ll'brar:?an vtio pr''Vid«»d aa« f gr^at help la coiaplotl^lc ray res.-*®'irc' work, i mu ind©bt«ed no Mr. S, Icaufsid Flusaln, LibrJar-^aji a.-Kl 'Jr. Ail ^lasan 7, ht*n, I--j."brary Attu.ido?3t, I)«ptt. t 041 .;!.•<' t "isn.M't,'I to Mr. fiia'isz'icl J*, la, 'Ax, r*iajf-s*'mS Al' ti^:- -'»t ^cr non-tsac' i rjf st'iff ajos'bcrP of the repartrnsr.t »ho in -ft t^ay- oi f, ?i© ot*^Pr helped ra*-' in cr»»nf1et1cg BBJ i Bimll b© ;tailing in (wy dutl»» if T ff>rjr«t t-*> rnxjifiit my »«nfru ot c(ratitud*e to ay parents vhoea bl«»»lnK* hav® b«0ti a aourcv of inspiration to aa* My thanks sre alao du*» to a oumljer of asy fHanda and f«llov res*arrh*>r#- especially Dr« Fh«hwar &law, Mr. w,?,|r. Sherwani, Mr. ^ehfi, HaaffabKlian, Mr. Mohd. »4a» Fhan, Wr» Wohd. Moh«lr firhan, Mr. Shamaaw Akhtsar and Wr. S. K ha lid Alt l?isrvi. ( RAIS AHMAD ) ( !• ) IWPSOOtJCTIOlf Fural d^TttlopoMnt has aseuBcd Kr««t«r import ane* In th« irrowth of th« country today than avar befora. It la a atratagy paeka|r*t aaaklni? to aehlava anhancad rural production and productivity, i^raatar aocio-aco- nomlc aqulty, a apatlal balanca In aoelal and aconoaiie daralopai^nt. Airrlcultura oeouplaa a kay poaltlon in tha Indian aoonony and aora particularly in aeoalaratiniir ^ba procasa of rural davalopment. Tta rola in atiaiulatinir rural davalopaiant ie unlqua* Tt oontrlbutaa to ovarall acononlc frovth tbroufb auppliaa of food for auatananoa, raw •atarialR for Induatrlaa, and axporta aarnlnir valuabla foralern axchanga* Tt i» a aourca of llrallhood for a majority of tkf rural population and providaa a larro markat for non-ai^rlcultural ftooda and aarvlcaa. Agrloultura and rural davalopaiant ara intarvovan. Papid davalopmant in airrlcultura and alllad actlvltlaa vill iflnprova tha quality of Ufa of tha rural paopla. 1. Dasai, Vaaant, Bur*l DaTalopmant, Hlmalya Publlahlnit Houae, Vol. VI, 1988, p.lAI i ^) A close lnt«|^«tion betv««n airricultur* and Industry holds botter proapoeta for rural dav^lofMiant and advanea- Biant of forcaa of production for akill fomatloa and po8ltiv« attitudes to dsT*lopnant. This may also accsn<» tuat« rural inaqualltias. But this incraasad inaquality vitbin rural eraas aay ba prafarabla to tha stats of rural under davelepsiant obtaining under conditions of industrial davelopaiant oonfioad to metropolitan centres vhose onl^' link with the rural economy is by way of receiTing raw metarials and other marketed including edible oil and keroe«»ne, but contributing little by vay of providing employment and redueinip poverty. Till about 1967t the official policy emphasised and relied upon the development of cooperative credit structure as a oompreheiwive agency to tackle the prol lem of agricultural finance. Cooperative credit societies vers expected to meet short term and medium ter» needs and Land ftortjraire Development Faidcs V9V astabltehed to meet lon|^ term needs of agricultural sector in India. Till 19^7* it may be said that eonsmer- cial banks vere not involved in providing, at say rate, dir*»ct finance to agriculture. Since 19^8, there was a radical cbangs in the approach of commercial banks towards afrricultural finance, 1, Desai, Vasant, Bural Deyalopment. ffinalya Publlshinir House, Vol. VT, 1988, p.1*1. ( vl ) On th« r»commmrfimt±t>n of th« Rural Cr»dit Surv«y Comnittee, a nll^l^er of naaeuras vara takan to atreniirt>i«n th« cooparatlv© or^Kilt structure is» the country. Thora WIS* corns-d*rat la ijxjpaiisloa in l^rKHTvP *?F cooperntlva c-radit «nctatl«J* «nfS "by th® and of 1«>68, Primary Apr3- ewltural Tooperat^va Credit Snolatla?* had lant t«r» •srri- C'jli "jriatf* mo'T-r' thaa 500 croraa which !«• about 30 i>«r c^o* of tota^ borrovinir* of ^'Ha airrieultural aaetor. A Commlttaa of Banltar« vaa appointad by l?e«?anra Bank of Tndla in August 1^69 undar tha Chalraianahlp of Mr. r.K.r. 'Var'Bian. Tbi* Cosgnlttaa vaa antruetad with a-rolTlnir a coordinatad prof^raMoa for branch axpanaion to ensure adaquata banking faellitlae in undar-bankad dlstrieta of tha country* the aboV4» mcnticnad CooMsittea axamlnad tha posi­ tion of banking faoilltia* In tha country and racomsendad tha introduction of Laad Bank !hche«a for all tha di»«trtct« of country, "^hua, on tha ba^l* of racoBwnandations of farlBian '^otaimlttaa for Laad Hank Schewa, tha w©f«arva ^nrtk of "•'ai^a m'>dif±od and f1 nails'^ the ?.aad F^nk Pchof*f» for State Bnt&i of Tndla and its aubaidiarias, 1*» nati onalitsad 1. liaaaiy S.S.^., Bural Bankinf in Tndja, ^Inalya ( Til ) baoka and thr«* prlv«t« sector bank* 1B th« Bonth of Ootobvr 1969 and Inplanantad thin sohaaia throuKbout th» country in tha month of Paeamb«ri. l96o. This ectaana haa eoirarad all tha diatriets in tha country vith tha axcap-> tion of Graatar Bonbay, Calcutta, Hadraa, Union Tarritory of Pal hi, Chandlirarh and Ooa« Ttta aiain function of Laad I^ahk is to prepara a Surray Raport of ita allotted district and naoroh out tUoaa ar«as vhioh aro potential for baiid^ln^ facilitioa, but bankinie m9Tyr±c»a ara not available* Thua, on tha b&ala of Surrey report submitted by tha Laad Bat* of a particular district, tha Wesarira Panic of India irranta tha liaanoaa tor opaninc: new branch«a to provida bankinir faciiltiaa In potential areas. At the and of Bacaaibar 1987, the Lead Bardr Scheaie covered '•'^8 dlatricto in tha country.
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