Institutional Finance In District Nainital

There is an important role of Banks in social & economic development. In the current liberalition era its activities become more important by providing finance to the public for employment generation. The banks located in the district are extending their network in the rural area to provide help in development works. The following banks are working in the district :

S.No.

 Name Of Bank

No. of Branches

1.

 Bank of Baroda

15

2.

 State Bank Of India

12

3.

 Punjab National Bank

6

4.

 Allahabad Bank

3

5.

 Oriental Bank Of Commerce

1

6.

 UCO Bank

1

7.

 Central Bank

4

8.

 State Bank Of Patiala

1

9.

 Union Bank

1

10.

 Punjab & Sindh Bank

2

11.

 Nainital Bank Ltd.

11

12.

 Vijaya Bank

1

13.

 Nainital District Co-operative Bank

20

14.

 Gramin Bank

19

15.

 Canera Bank

1

16.

 Bank Of India

1

17.

 Kurmanchal Nagar Sahkari Bank Ltd.

8

18.

 Indian Overseas Bank

1

Thus more than 100 branches of Banks are working in the district and each block & tahsil headquarter is having at least one bank branch. On this data there is a bank branch on the population of 5000. Bank Of Baroda is the lead bank of the district. Loans are distributed by these banks in agriculture, small scale industries, service sector as per the requirement.

According to 1998 statistical details, there are 53 agriculture co-operative societies in the district which are having 49919 members. Other societies includes 418 milk production, 2 fisheries, 6 weaving units having 5005 members. Co-operative societies are the best way to provide financial assistance to small farmers, entrepreneurs .


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