GR Chintala, Chairman of NABARD, in a function to hand over loan sanction letters to the members of women SHGs.

Says they were started with the main objective of liberating women from economic and social bondage

The Chairman of the National Bank for Agriculture and Rural Development (NABARD), GR Chintala, has said that self-help groups (SHGs) have been playing a pivotal role in making women economically strong along with making them self-reliant.

Addressing the members of SHGs during his visit to Karnataka Vikas Grameena Bank (KVGB) in Dharwad, he said SHGs were started with the main objective of liberating women from the shackles of economic and social bondage. SHGs were aimed at equipping women with the capacity to take independent decisions. Economic freedom was vital to achieving this, he said.

Chintala urged the bankers to sanction loans without any inhibition to help women below the poverty line to achieve economic progress.

Stating that regional rural banks (RRBs) have made impressive strides in various business indicators, he said NABARD is keenly watching the progress of RRBs and extending them timely guidance and support. RRBs are doing well in the formation and linkage of SHGs and joint liability groups (JLGs), and in managing microfinance matters, Chintala said.

P Gopi Krishna, Chairman of KVGB, highlighted the performance of KVGB and its social involvement, and also explained the steps taken by the bank under the financial inclusion plan.

Pact with Canara Bank

Meanwhile, NABARD signed a memorandum of understanding with Canara Bank in connection with the formation and linking of JLGs. Under this agreement, Canara Bank has to form and credit link 2,510 JLGs in Karnataka.