Banking Through Micro Eyes

BANKING THROUGH MICRO EYES

Soumendra Roy

Assistant Professor, Netaji Subhash Institute of Management Science, Delhi

soumendra.roy@gmail.com

Aditya Das

Financial Consultant, Delhi

jishu_adidas@rediffmail.com

Abstract:

The very term ‘welfare states’ speaks of the telling existence of the have’s and the have not’s. Since we call him the Father of the Nation and put his gum-revealing, ear to ear smile on each currency note of ours, it won’t be irrelevant to quote: The state is one of the means enabling people to better conditions in every department of life …. Having said that we also recognize the gulf of difference in between the haves and have nots in this country of ours. In fact, right from the days of epics there existed slaves. Allusions from Ramayana and Mahabharata are rife about the existence of slaves. Down the rigour of time the Hindu Raja’s came and go until they were replaced by the Sultan’s, thereafter by the Mughals and then by the British. Then on 14th August, 1947 midnight dawned a fine morning called Independence, but are we there to face the sun being six inches taller to say that the problems of Hasem Sheikh and Rama Kaivarto are no more! However this article doesn’t intend to portray the intensity of poverty in this country but to explore the ways to do away with this financial curse. These days we often happen to learn of so many NGOs doing something in the micro-level; again NBFCs (basically the offspring’s of MNC banks) are often found to fish in the mud-water in the name of welfare. This article of ours humbly derogates any such moves, in disguise of welfare and try to find out the ways and means where Public Sector Banks can really make a huge difference; can really uplift people from the jaws of telling poverty. For, one discoverer of India once said: The quack treatment of a deep-seated disease doesn’t yield result.

INTRODUCTION

The state represents violence in a concentrated and organized form; it can never be...