NEED FOR BANKS IN RURAL AREAS
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NEED FOR BANKS IN RURAL AREAS
INTRODUCTION TO CHAPTER ONE OF THE NEED FOR BANKS IN RURAL AREAS
STATEMENT OF THE PROBLEM AND THE PURPOSE OF THE STUDY
For many years, the government has been running in low banking around the country and /study to look into it, and find out that there is a need for the government to establish more banks,
especially in our country’s rural areas, and further stated that if the government can do that, it will bring banking activities closer to the people in the rural areas.
The majority of the problems that some people in that area face is saving, and they find it difficult to save their money at home because of the high rate of theft in that area (rural area), and there are some people who need to invest their funds in banks in that area, but there are no known banks in there.
So, as a result of my research, the government will be aware of the needs of banks, particularly in rural areas of our country Nigeria, and the necessity to construct banks in rural areas will provide some citizens with incentive to invest their funds for future purposes.
OBJECTIVE OF THE STUDY
Every researcher has a goal or objectives for carrying out a specific topic to examine, such as the following.
1. Recognise the necessity for banks in rural areas.
1.2 THE PURPOSE OF THE STUDY
The purpose of the study is to determine the necessity for banks in rural areas of our country, Nigeria, and some of the reasons are as follows:
1. To understand why the government requires banks, particularly in Nigeria’s rural communities.
2. To understand the requirements for community banks to thrive in rural areas.
3. To ensure that people in rural areas saved money through banks.
4. Increase the number of banking consumers in our country.
1.3 THE IMPORTANCE OF THE STUDY
Throughout this course of study, I realised that the government and banks, particularly community banks, will profit from my research.
I observe that many students in the banking and finance departments will gain more understanding from this topic, and it will benefit the global community by assisting those in need.
1.4 DEFINITIONS OF TERMS
The terminologies used in the field of research are simply defined as follows:
Banking: According to Obinna (2004), banking is a business activity of banks. It is an association of people authorised by law or formed to provide financial services to the public.
Rural area: This is an association of various families who live in a given area and are referred to as a community.
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