Madhapar Village Holds Rs 7,000 crore in Fixed Deposits Across 17 Banks

Madhapar, a settlement on the outskirts of Bhuj in Gujarat’s Kachchh district, is reported to have roughly Rs 7,000 crore in fixed deposits spread across 17 bank branches, a figure cited in a 2025 report. The village’s unusually high banking density includes branches of Axis Bank, HDFC Bank, ICICI Bank, Union Bank and others, serving an estimated 92,000 residents and 7,600 households. The bulk of the deposits originates from villagers who migrated abroad since the 1960s, establishing businesses in the United Kingdom, United States, Canada, African nations and the Gulf, and regularly remitting earnings back home.

The Madhapar Village Association, created in London in 1968 and also operating locally, coordinates these financial links and encourages residents to keep savings in Indian fixed deposits. These inflows have financed extensive community projects, giving the village paved roads, schools, colleges, hospitals, parks and other amenities that resemble a small town. Historical roots trace back to the 15th-century settlement by the Mistris of Kutch and later the Patel Kanbi community, but modern prosperity is driven by transnational migration and remittances.