"There should be greater money supply to the hands of the rural people so that they can avail the services in the priority sectors," RBI deputy governor KC Chakraborty said after a State Letel Bankers Committee meeting here.
Pointing to Meghalaya where the cash deposit ratio was as low as 40 per cent, Meghalaya chief secretary Ranjan Chatterjee said banks, particularly the private ones, are reluctant to open branches in rural areas of the state.
"During the meeting, we tried to dispel the notions of the banks and work out a mechanism to provide banking facilities to the people in the rural areas," Chatterjee said.
The chief secretary said Meghalaya government offered accommodation to the banks and assured security in rural areas.