It is meant to help self-help groups and joint liability groups achieve economic independence: Chintala
It is meant to help self-help groups and joint liability groups achieve economic independence: Chintala
To help self-help groups (SHGs) and joint liability groups (JLGs) achieve economic independence, bankers should distribute loans liberally to them, Chairman of NABARD G.R. Chintala has said.
Addressing members of SHGs at a function organised at Karnataka Vikas Grameena (KVG) Bank in Dharwad on Tuesday to mark his first visit to North Karnataka and also the bank, he said that self-help groups have been playing a pivotal role in making women economically strong and also self-reliant.
“Self-help groups were started with the main objective of liberating women from the shackles of economic and social bondage and equipping them with the ability to make independent decisions for which economic freedom is vital,” he said.
Mr. Chintala asked the bankers to sanction loans without any inhibition so that women belonging to BPL families are able to climb the ladder of economic progress.
On the role of Regional Rural Banks (RRBs), he said that NABARD has been extending timely guidance and support to RRBs and they have made impressive progress. They are doing exceedingly well under the formation and linkage of SHGs and JLGs and even managing micro finance matters, he said and lauded KVG Bank for its efforts in taking financial inclusion initiatives.
Chairman of KVG Bank P. Gopi Krishna briefed about the steps taken by the bank under financial inclusion.
On the occasion, Mr. Chintala handed over a cheque for ₹193 crore (loan amount) for the beneficiaries of 7,216 self-help groups and joint liability groups on behalf of Karnataka Vikas Grameena Bank and Karnataka Gramin Bank.
MoU signed
Meanwhile, NABARD has signed a memorandum of understanding (MoU) with Canara Bank in connection with the formation and linking of JLGs and on Tuesday, Chief General Manager of Canara Bank Debananda Sahoo and NABARD Chief General Manager T. Ramesh signed the agreement in the presence of Mr. Chintala.
Under the MoU, Canara Bank has to set up and credit link 2,510 JLGs in the State. Chairman of KCC Bank Mallikarjun Horakeri, senior officials of Canara Bank, KVG Bank and others were present.
