Marathwada has the lowest number of PSBs in the state

Branches of national banks in Marathwada decreased after merger

Network of nationalized banks is still very low in rural areas

VAIBHAV PARWAT

Aurangabad, Dec 8:

The banking sector is considered the backbone of the economy. But the network of nationalized banks in Marathwada is very weak as compared to other divisions. As a result, the financing is relatively low. From 2017 to 2021, the number of branches of the Public Sector Banks (PSBs) in all eight districts decreased due to implementation of bank merger policy of the Central government. Marathwada has the lowest number of bank branches in the state and hence the ratio of deposits and loans is low.

The area where the number of banks is less is considered backward. The State Bank of Hyderabad (SBH) had the strongest network in Marathwada. However, due to the merger of SBH with State Bank of India (SBI), many branches in the rural area were closed. Following the merger, some branches of SBI were also closed. Dena and Vijaya Bank were also hit by the merger with Bank of Baroda, while Syndicate bank merged with Canara bank. As a result, the work stress on a single bank has increased, which has an impact on customer service. Hence the tendency of people towards private and cooperative banks has increased.

Strengthening banking system is a big challenge

The banking system in Marathwada was hit hard by merger. This weakened the banking network. Growing branches and strengthening the banking network is now a big challenge. Marathwada is also lagging behind in terms of deposits and loans, said Devidas Tuljapurkar, banking expert.

Marathwada also lags behind in deposits

As per the report of the State Level Bankers Committee (SBCL) dated March 31, 2021, there are 16,630 branches of nationalized banks in the state. There are 1945 branches of PSBs in Marathwada, 4,900 in Kokan, 2999 in Vidarbha and 6786 branches in Western Maharashtra. There are deposits of Rs 9566 crore in PSBs across Marathwada, Rs 1,99,253 crore in Vidharbha and Rs 5,77,724 crore in Western Maharashtra.

Number of branches reduced

The number of branches which was 213 in Parbhani district in 2017, has come down to 204 in 2021. The number of branches in Nanded district has decreased from 271 to 259. In Latur, the number fell from 285 to 275. There were 537 bank branches in Aurangabad district till 2019. That number dropped to 473. The number of branches in Osmanabad reduced from 232 to 204.

Such declining branches in Marathwada

District 2021 2019 2017

Aurangabad 473 537 435

Beed 217 240 148

Hingoli 68 82 67

Jalna 183 194 178

Latur 275 325 285

Osmanabad 204 232 212

Nanded 259 300 271

Parbhani 204 232 213