Role of Regional Rural Banks in rebuilding of rural economy-P Gopikrishna

SELCO had organised a webinar on the steps taken by RRBs to strengthen the rural economy and capital required by rural masses for their livelihood options during the Covid Pandemic.

People who have migrated back to the villages will have to involve themselves in forming SHGs and should take interest in self employment activities, this will result in higher contribution from the Rural India towards the GDP of the country in the near future”, opined P Gopikrishna, the Chairman of a leading RRB Karnataka Vikas Grameena Bank, in a webinar organised by SELCO.

Presently the contribution of the  rural economy to the country’s GDP is much less compared to what it was during India’s independence, but in the coming days this will definitely increase.

SELCO had organised a webinar on the steps taken by RRBs to strengthen the rural economy and capital required by rural masses for their livelihood options during the Covid Pandemic.

P Gopikrishna also stated that “The  migrant labourers has already  migrated to rural areas. And they are in a great dilemma whether to come back to urban areas or to stay back. The chances of getting a job in an urban area would be less due to the downfall of hospitality and real estate industry. So most people will remain in rural areas. All that is required for them now is sustainable livelihood. So NGO’s should pitch in and train them give specific skills for the different livelihood options and give boost to the MSME sector”

These are interesting times and we must look at this as a great opportunity. If we consider the situation as difficult then to overcome would also be difficult. The human race has been resilient to such problems in the past as well. So we will definitely come out of this.

Dr. Harish Hande, CEO of SELCO Foundation concurred with the KVGB Chairman & stated that SELCO is ready to take the risk and the first step in reaching out to the rural masses. SELCO has always considered the rural underserved as it primary partners.  SELCO with its philosophy of inclusivity has developed a range of livelihood options that require affordable financing and innovative debt instruments.

The webinar was also attended by Mr. Thomas Pullenkav, Director SELCO India & Mohan Hegde CEO, SELCO India

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