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India’s Madhapar – the richest village in the world with Rs 5,000 crore bank deposit

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The residents of Madhapar village in India are more affluent than half the population of major towns and cities in the country. The village is located in the Kutch district in Gujarat. There are 17 banks situated in the village and about 7,600 housing establishments are there, the people of the village have a cumulative deposit of a whopping Rs 5,000 crores in these banks.

 

Madhapar is one of the 18 villages established by the Mistris of Kutch. According to estimates, the average per capita deposit in the village is around 15 lakhs. Apart from 17 banks, the village has schools, colleges, lakes, greenery, dams, health centres, and temples. The village also has a state-of-the-art gaushala.

 

The reason why this village is different from the conventional villages in India is that most of the family members and kins of the villagers reside in foreign countries such as the United Kingdom, the United States of America, Africa, and the Gulf countries. Majorly Patels and more than 65% of the people are NRIs who send huge amounts of money to their families from outside the country. Many of these NRIs, after earning a fortune, came back to India and started their ventures in the village.

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