Rural India is a target market for many players in the financial sector, and insurance companies are no exception. While public sector insurance companies boast that they have already captured this area, the extent of penetration of the insurance majors into rural India is not yet clear.
With the reform process, public sector banks reduced their branches in rural areas. This was not because rural branches were not viable, but because they had accumulated non-performing assets due to their inability to recover loans.
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Source: hindu