With Rs 5,000 Crore Bank Deposit, this Indian village is the richest in the world

The inhabitants of this village may be better off than half the population of the country’s big 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 residents of the village have an accumulated deposit of a whopping Rs 5,000 crores in these banks.

The village we are talking about is Madhapar. Located in the Kutch district of Gujarat, Madhapar is one of the 18 villages established by the Mistris of Kutch. It is estimated that the average deposit per capita in the village is around 15 lakhs. Besides 17 banks, the village has schools, colleges, lakes, greenery, dams, health centers and temples. The village also has a state-of-the-art 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 United Kingdom, United States of America, Africa and Gulf countries. Mainly Patels, more than 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 encounters between Madhapar residents living abroad. A similar office was also opened in the village, to establish smooth connectivity between people.

Even though many villagers have settled abroad, they have not abandoned their roots deep in the village soil. They prefer to save their money in the banks of the village rather than in the country where they live. Agriculture is still the main occupation here and products are exported to Mumbai.

Read all the latest news, breaking news and updates on coronavirus here

Christina A. Kroll