The construction of the grand Ram Temple at Ram Janmabhoomi in Ayodhya has not only fulfilled the religious aspirations of millions but has also provided a major boost to the local banking sector. Since the Pran Pratistha (consecration) of Ram Lalla, the financial landscape of the district has witnessed remarkable growth, with bank loan disbursements and deposits rising significantly.
Sharp Increase in Loan Disbursement
Before the temple’s inauguration, banks in Ayodhya typically distributed around ₹4,000 to ₹4,500 crore in loans annually. However, in the past year alone, this figure has surged to nearly ₹6,000 crore. Over the last four quarters, loan disbursements skyrocketed from ₹1,200 crore to ₹7,933 crore, reflecting an increase in economic activity and entrepreneurship.
Business Expansion Driving Growth
The increase in visitors to Ayodhya Dham after the temple’s inauguration has led to a rapid expansion of hotels, restaurants, and homestays. Many entrepreneurs have taken advantage of bank loans to launch new businesses, while others have used financial assistance to expand or improve existing enterprises.
Rising Bank Deposits and Transactions
Alongside the rise in loan disbursements, bank deposits in the district have also seen a notable increase. In the previous financial year, the total deposits stood at ₹19,985 crore, but within a year, they rose by ₹2,283 crore, reaching approximately ₹22,268 crore.
The increase in banking activity has also led to a higher volume of transactions, prompting banks to expand their services. Over the past year:
- Nine new bank branches have been established.
- Fifteen new ATMs have been installed.
- Some banks from South India have shown interest in expanding their presence in the district.
Currently, Ayodhya has around 37 banks operating 252 ATMs, serving the growing financial needs of residents, businesses, and pilgrims.
Government and Banks Supporting Entrepreneurs
The banking sector’s strong performance is expected to continue in the 2024-25 financial year, with special efforts being made to distribute loans to small businesses and farmers. Last year, approximately ₹6,000 crore in new loans were sanctioned to 2.6 lakh people through direct applications and special loan camps.
By December 2024 alone, banks had sanctioned ₹5,725 crore in loans, with over 70% of the amount allocated to micro and small enterprises as well as the agriculture sector.
Ganesh Shankar Yadav, Manager of District Lead Bank, Ayodhya, stated:
“After the consecration of Ram Mandir, the banking sector of the district is witnessing continuous growth. Banks have been instructed to distribute loans to as many beneficiaries as possible. No one should face a lack of funds in setting up their venture. If needed, loans can be given beyond the set targets.”
Conclusion
The construction of the Ram Temple has had a transformative impact on Ayodhya’s economy, particularly in the banking and business sectors. With increasing financial activity, Ayodhya is emerging as a thriving commercial and banking hub, driven by religious tourism and entrepreneurial ventures.