Vijaya Bank lends micro credit to 1,900 SHGs

Assigned to cover Mandya district to provide basic banking services through IT-enabled financial inclusion, the average micro credit loan size to SHGs has risen manifold. It has surpassed Rs 2 lakh.

The bank has been assigned with the task of covering 122 of 125 villages having a population of over 2,000 to provide basic banking services in the district where it is implementing the ‘one district one bank’ model under the financial inclusion programme.

The bank’s Mysore regional office held credit linkages at Hulikere and Manigere villages under its K Honnalgere and Bharathinagar branches, respectively. The programme, part of the financial inclusion plan, was held on September 5.

 

The bank has come out with definite strategies to provide overdraft up to Rs 500 in the no-frill savings bank accounts to assist customers with small credit requirements. To assist small and marginal farmers and agriculture labourers to take up viable activities, it has come out with hassle free JLG Scheme.

The banking correspondent model with biometric smart card and hand-held machine, adopted by the bank, was very much customer-friendly, said bank’s executive director Shubhalakshmi Panse, inaugurating the programme.

She handed over Vijaya Vikash smart cards (biometric) to a few no-frill account holders. The local agents of the business correspondent were told to cover all the households under the banking network.

About 115 loans involving total credit outlay of Rs 41.76 lakh were also distributed, Rs 27.40 lakh in Hulikere and Rs 14.36 lakh in Manigere villages under seven schemes.

While handing over the sanction letters to the loan applicants, the Executive Director stressed about proper loan utilisation and prompt repayment. She reaffirmed the Bank’s commitment in reaching the un-reached in a definite time programme.