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shine india magazine subscription Published this articles page no 127

 The efforts made by the government and the RBI resulted in branch expansion but the money lender continued to play an important role. The number of banking offices in India on the eve of establishment of the RBI in 1935 were 946. In March 1969 when banks were nationalized there were only 1833 rural and 3342 semi urban bank offices out of total rural areas even after nationalisation because bank branches were few and located far away. The spread of branch networks was extensive but despite governments efforts to expand banking penetration and extend credit share of professional moneylenders in rural credit started increasing after 1991 shine india magazine subscription.