The Rural India that No Bank Is Willing to Finance!

‘We cannot finance a loan in the interiors of India,’ said the manager of a well-known bank. ‘We prefer to finance loans in semi-rural and urban areas since the risk is less.’

I had never heard this side of the story before. The media seems to be showing a different picture. It appears that the rural India: The hinterland – the place where more than 70% population of India resides is not all that rosy for banks, financial institutions and the government. On papers, they may be launching a lot of schemes to promote entrepreneurs, new start ups but when it comes to real time, most of these schemes seem to be a hogwash!

‘Who would take the risk of financing any ventures like these?’ said the bank manager. ‘Applying for financing your own venture under government schemes requires scores of paper work and greasing a lot of palms. Only those with some kind of an approach can do it!’

These words seem to be the universal truth in this country. No wonder, where countries like America have Facebook, Apple, Microsoft and many such entrepreneul success stories, India probably just has one Urban Company or a couple more. When you go to apply for a loan from a bank, you are asked for a proof of employement. If you say you are a self earning induvidual, then scores of forms open up which effectively dash down any hopes of getting help for your venture!

We talk of making India a superpower. We talk about MakeinIndia! We talk about bringing new ideas! But how many of those ideas are heard or paid heed to! Do the babus sitting in those offices really understand what these schemes mean? The loans, the schemes that are announced with so much aplomb and fanfare, who really avails those? Or are these schemes just another way to add a few inches to some already burgeoning accounts?

When we talk about India, which India are we really talking about? The India where more than 70 percent of the population resides and every scheme is simply displayed like the tusks of an elephant but cannot be availed without knowing any one or the India where everyone knows everyone and uses these schemes to finance their self-interest rather than ventures?

To tell you the truth, knowing this truth brings nothing but disillusionment in the bunch of lies spouted by a grandoise bureaucracy!


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