With a deposit of Rs 5,000 Crore Bank, this Indian village is the richest in the world
The inhabitants of this village may be richer than half the population of the country’s major cities. It can be said that the richest village in the world is located in India. With more than 17 banks located in the village and around 7,600 housing establishments, the villagers have a cumulative deposit of a whopping Rs 5,000 crore in these banks.
The village we are talking about is Madhapar. Located in the district of Kutch in Gujarat, Madhapar is one of the 18 villages established by the Mistris of Kutch. The average deposit per capita in the village is estimated to be around 15 lakh. Besides 17 banks, the village has schools, colleges, lakes, greenery, dams, health centers and temples. The village also has an ultramodern gaushala.
But why is this village so different from conventional villages in India? The reason is that most of the family members and relatives of the villagers reside in foreign countries such as UK, USA, Africa and Gulf countries. Mainly Patels, over 65% of people are NRIs who send huge sums of money to their families from outside the country. Many of these NRIs, after earning a fortune, returned to India and started their businesses in the village.
According to reports, an organization called Madhapar Village Association was established in London in 1968. It aimed to facilitate meetings between Madhapar residents living abroad. A similar office has also been opened in the village, to establish smooth connectivity between people.
Even though many villagers have settled abroad, they have not abandoned their roots deeply rooted in the soil of the village. They prefer to put their money in village banks rather than in the country in which they live. Agriculture is still the main occupation here and the products are exported to Mumbai.
First publication: STI