Assessing the Role of Vananchal Gramin Banks in Empowering Tribal Development: A Review-Based Perspective
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Abstract
This study assesses the role of Vananchal Gramin Banks in empowering tribal development, focusing on their efforts to bridge financial exclusion and foster socio-economic progress in marginalized tribal communities. Tribals, who often reside in remote, resource-rich but underdeveloped areas, face challenges such as poverty, limited access to financial services, low levels of education, and restricted participation in mainstream economic activities. Vananchal Gramin Banks, as part of India’s regional rural banking network, have been instrumental in addressing these issues through tailored financial products, government-supported schemes, and community-centric initiatives. The bank’s key programs include promoting financial inclusion under the Pradhan Mantri Jan Dhan Yojana (PMJDY), providing agricultural credit through Kisan Credit Cards (KCC), and supporting micro-entrepreneurs via Mudra Loans and Self-Help Group (SHG) financing. Additionally, the bank facilitates the implementation of social welfare schemes such as MGNREGA and PMAY, ensuring timely disbursement of wages and housing loans. Despite their contributions, challenges such as limited infrastructural reach, low financial literacy among tribal populations, and geographical barriers hinder the bank’s ability to fully realize its developmental objectives. This review-based study aims to evaluate the bank’s impact, identify gaps in its implementation strategies, and propose solutions to enhance its effectiveness.
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