Friday, Dec 03, 2004
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By Our Staff Reporter
TUTICORIN, DEC. 2 . As part of its efforts to strengthen the link between self-help groups and banks the National Bank for Agriculture and Rural Development conducted an orientation programme
here last evening.
Addressing a gathering of bankers and entrepreneurs, R Bharath Kumar, Assistant General Manager, NABARD, said banks who took efforts to add SHGs into the customer base were bound to get social recognition and an increase in the deposit base in the longer run. Reserve Bank of India and NABARD guidelines have stipulated that no collateral security be taken from the SHGs. However, the RBI has allowed respective banks to decide on the rates of interest to be levied on the SHGs.
The NABARD has formulated supportive policies to help banks become Self-Help Promotion Institutions (SHPIs).
Stating that the NABARD treated the current fiscal as `Year of Consolidation', Mr. Bharath Kumar said, ``we are taking initiatives to consolidate the activities of the SHGs by improving the transparency, accountability and sustainability of the groups''. He added that the NABARD had chalked out plans to conduct capacity-building exercises to boost the performance of the SHGs across the country''.
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