ANI PR Wire
15 Mar 2023, 23:45 GMT+10
Mumbai (Maharashtra) [India], March 15 (ANI/PNN): Bank of Maharashtra (BoM), a premier public sector bank in the country, collaborates its subsidiary Gramin Mahilava Balak Vikas Mandal (GMBVM), with Shri Kshethra Dharmasthala Rural Development Project BC trust (SKDRDP). Through this collaboration Bank envisage for credit linkage of Self Help Group in the state of Maharashtra and add fillip to financial inclusion & its promotion driven through technology to the unserved and underserved.
Through this move, Bank will spur promotion and handholding of Self Help Groups, credit linking through bank finance in several modules for providing financial inclusion services to the unserved community. Bank of Maharashtra shall adopt BC/BF model (Business Correspondent/Banking Facilitator), promoted by Reserve Bank of India, through SKDRDP, for delivering the financial products to the last mile. Gramin Mahilava Balak Vikas Mandal (GMBVM), a subsidiary of BoM will function for promotion and handholding of the Self Help Group across the country. Besides, BoM has also entered MoU with SKDRDP which will work as BC/BF for Bank, in Belgaum district for SHG bank credit linkage.
A S Rajeev, MD & CEO, Bank of Maharashtra commented on the collaboration "Our goal is to reach and deliver Banking services to all segments of society including the person standing at the last mile. This move will strengthen our efforts towards fulfilling the motto of financial inclusion and making unserved sections self-reliant."
A B Vijayakumar, Executive Director, Bank of Maharashtra said "Through this collaboration coupled with technology, Bank shall deliver its services to the people at the bottom of pyramid with ease, making them self-reliant and helping them achieve the larger purpose of social and economic upliftment".
Asheesh Pandey, Executive Director, Bank of Maharashtra said "Bank is envisaging 360-degree growth, and this can only be achieved when we cater one and all in our society. Through technology we envisage to bridge the gap of banked and unbanked segments and this will prove as a game changer in days to come." Collaborations on Sourcing and Monitoring will enable the organisations to grow & flourish in days to come.
On this association L H Manjunath, Chief Executive Officer, SKDRDP BC Trust said, "SKDRDP has been able to reach out to the entire community of Karnataka irrespective of caste, creed and social status". "Having developed certain unique models touching the life of the unreached and the poor, this partnership with Gramin Mahilava Balak Vikas Mandal (GMBVM) and Bank of Maharashtra will help the SHG with credit linkage support". "GMBVM will be able to capitalize on SKDRDP BC Trust three-decade-long experience in the credit linkage of SHG with the deployment of real-time monitoring system".
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)
Get a daily dose of Nepal National news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nepal National.
More InformationDUBLIN, Ireland: Bank of Ireland has announced that it has raised fixed mortgage rates following a cumulative 3.5 percent rate ...
NEW YORK, New York - U.S. stocks finished the third quarter with a bang on Friday. Despite a volatile start, ...
CUPERTINO, California: In a move aimed at disrupting the fintech sector dominated by Affirm Holdings and Sweden's Klarna, this week ...
BURBANK, California: Walt Disney has begun its planned lay off of 7,000 staff, which was announced earlier this year.A letter ...
NEW YORK CITY, New York: A study published this week reported that China spent $240 billion between 2008 and 2021 ...
NEW YORK, New York - U.S. stocks posted a decent rally on Thursday with all the major indices making good ...
HANOI, Vietnam: Tensions were again increasing off the coast of Vietnam as Hanoi ordered its navy to shadow a Chinese ...
JAKARTA, Indonesia: Officials from Indonesia's Aceh province said that more than 180 Rohingya Muslims landed this week by boat, in ...
New Delhi [India], April 1 (ANI): The Indian Navy would deploy its recently-approved BrahMos supersonic cruise missile-equipped mobile coastal batteries ...
Dhaka [Bangladesh], April 1 (ANI): Shakib al Hasan and Litton Das have been included in the Bangladesh squad for the ...
New Delhi is seeking to substantially boost the nation's exports by 2030India's central government has unveiled its new Foreign Trade ...
Islamabad [Pakistan], April 1 (ANI): A Christian man was shot dead in Peshawar, Khyber Pakhtunkhwa Province on Saturday, in what ...