Why are there so many bank branches in a tiny town
Here is a quiz question. Which town in India has the maximum number of bank branches and is the favourite destination for public sector banks to launch new products and services? In case you are clueless, the answer is Sivaganga, a little-known district in Tamil Nadu, which happens to be the constituency of P Chidambaram, India’s finance minister, at various times over the past 15 years.
While Amethi and Rae Bareilly, the constituencies of Rahul and Sonia Gandhi, respectively, may be lagging in development and infrastructure, Mr Chidambaram has ensured that his constituency is not lacking in banking services and easy loans. The district has a whopping 200 branches and every bank chairman knows that the best way to attract the FM’s benevolent attention is to open a branch, or launch a mobile banking service at Sivaganga, and to invite Mr Chidambaram to inaugurate it. According to a newspaper report, the finance minister has visited his constituency 95 times in the past four years and is always happy to do a bit of ribbon-cutting during those trips.
Unfortunately, senior bankers also admit that no chairman cares about the branch beyond the grand inauguration and initial lending to impress the minister. Immediately afterwards, the branch begins to languish.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
how is money ?
plz if your contact me
by mail :[email protected]
mob: 09827232559
Is there any import, export or manufacturing activity in Shiv
Ganga?