Rural banking cannot be overlooked for country's economic development, said Dr N K Tingalaya, former Chairman and Managing Director of Syndicate Bank.

Addressing the branch managers of Dharward-based Karnataka Vikas Grameena Bank (KVG Bank), he said “When a nation is in the grip of poverty, it is impossible to expect a peaceful situation. Therefore, eradication of poverty should be the ultimate aim of the country. This can be achieved through the medium of micro-credit, whose systematic delivery is possible through the grameena banks.”

Pat for KVG Bank

He lauded KVG Bank for the progress made and also its social projects especially in the field of financial inclusion, agricultural lending, priority sector lending and solar power initiative.

Mr C Sambasiva Reddy, Chairman of KVG Bank, said the bank has adopted a clear-cut roadmap under various parameters as directed by the Union government, Reserve Bank of India and Syndicate Bank. The bank plans more grama sabhas to reach out to the farming community with simple credit products to even remote villages.

Mr Reddy said, “Last year, the bank conducted 1,457 grama sabhas and that has made our bank to interact with villagers most effectively.”

Solar villages

To address the power crisis, KVG Bank plans to popularise the initiative ‘Namma Manege Nammade Belaku' (Our House Our Own Light).

“Through this concept, the bank has already converted 127 villages as solar villages and this year, the bank plans to convert additional 50 more villages as solar villages,” said Mr Reddy.

The General Manager, Mr.Muralinath Gupta, the Regional Manager, Mr G.A. Puranik, and others were present.

anil.u@thehindu.co.in

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