KL NEWS NETWORK
The only questions worth asking today are that why are we here and why should we pursue micro-credit programs under Self Help Group (SHG) and Joint Liability Group (JLG). And the comprehensive answer one arrives at is that the growth engine of every economy is driven only by the participation of its population.
J&K Bank Chairman & CEO Mushtaq Ahmad stated this today at the inaugural session of a ‘Workshop on Micro-Credit, Credit-Planning and Developmental Initiatives’ organised by NABARD (J&K Chapter) in association with J&K State Level Bankers’ Committee (SLBC), here at the Bank’s Corporate Headquarters.
The workshop was attended by J&K Bank President Mohammad Amin Mir, Vice-Presidents, bank’s Lead District Mangers (LDM), Cluster Heads and other officers besides Area Managers and district coordinators of other banks operating in Kashmir Division, a J&K Bank statement said Wednesday evening.
Chairman further said, “We help society to achieve financial growth, which is not only our obligation but a duty as the premiere bank of the state. And programs like SHG-BLP and JLG are effective ways and means to achieve economic growth that is inclusive and sustainable.”
“Moreover, as bankers, we must appreciate the fact that these schemes provide a window of opportunity to expand our balance sheet over a long-term. These programmes provide us an alternative to promote a better composition of business while spreading the risk”, he added.
Stressing upon the need to dedicate oneself for the welfare of society at large he said, “The biggest social responsibility for us is to complement and supplement the efforts of those people who want to stand on their own. People, who want to dignify their living with hard-work and consistency of efforts. This is the noble mission we all must work for.”
Hailing the efforts of NABARD, he assured them of complete support in their wider campaign of financial awareness in the state of J&K.
Earlier, CGM NABARD Shankar A Pandey elaborated on the very of idea of SHG-BLP and JLG finance.
He said, “The crucial message to take forward about these programmes is that these are not only poor oriented schemes but promising business propositions for banks also. And following a robust Rural Credit Strategy has proved to be quite a viable business opportunity for some private banks as well.”
“One of the glowing examples is that of Bandhan Bank that was recently provided license for commercial banking by the RBI. It is a client-based Micro-finance Institution that besides being profitable had reached to millions of people successfully. It plans to open 800 branches across the country, soon”, he said.
Praising J&K Bank for its role in development of the state, he further added, “J&K Bank, being the leader bank in the state, can help in mainstreaming these programmes as a viable commercial activity. And when this bank moves, the things change completely.”
He also proposed to organize linkage tours for J&K Bank to the banks operating in other parts of the country with higher rate of success in these programmes for useful exchange of views, experiences and methodologies.
As a gesture of institutional appreciation for their outstanding performance in implementing these schemes on ground, the Chairman and the CGM gave away mementos to J&K Grameen Bank Officer Abdul Khaliq, EDB Manager Kulgam Vivek Ram, Business Correspondent J&K Grameen Bank (Sumbal) Nusrat Nazir and Finance Secretary of a local NGO Irshad Mohiudin.