The Union Ministry of Rural Development has awarded Karnataka Grameena Bank the 'National Award for Outstanding Performance in SHG Bank Linkage 2024-25'. According to reports from The Hindu BusinessLine, the award was presented at the National Conference on Financial Literacy and Capacity Building and the 25th Central Level Coordination Committee meeting in Hyderabad recently. The recognition specifically acknowledges the bank's contribution to rural economic empowerment, particularly through self-help groups (SHGs).
As reported by The Hindu BusinessLine, the bank has extended ₹2,835 crore in credit to 80,904 SHGs so far. This substantial lending figure demonstrates the bank's significant role in rural financial inclusion and women's economic empowerment through the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission (DAY-NRLM). The scale of lending reflects the bank's commitment to supporting rural development initiatives across the state.
Shreekant M Bhandiwad, Chairman of Karnataka Grameena Bank, stated that this recognition reaffirms the bank's pioneering role in rural development and financial inclusion. According to The Hindu BusinessLine, he highlighted that the merger of two regional rural banks in Karnataka under the Government's 'One State - One Rural Bank' policy has strengthened the institutional framework and enhanced the bank's capacity to support regional development. VM Rukmini Devi, General Manager of the bank, received the award on behalf of the bank in Hyderabad.
As reported by The Hindu BusinessLine, Bhandiwad emphasized that this award further increases the bank's responsibility to continue expanding efforts towards inclusive and sustainable rural development in the coming years. The bank's alignment with the DAY-NRLM objectives ensures its continued focus on the economic empowerment of rural women through SHGs, positioning it as a key player in rural financial inclusion initiatives.
