Karnataka Vikas Grameena Bank (KVGB), a regional rural bank with 553 branches in nine districts of Karnataka, will soon appoint 150 women ‘daily deposit collectors’ (pigmy agents).

Launching two new schemes of the bank in Dharwad on Thursday, Ashok Reddy, Chairman of the bank, said that the bank will conduct interviews, exclusively for women, to work as pigmy agents. Women in the age group of 18-40 years can apply for this.

Stressing the need for appointing adequate women pigmy agents to ensure greater participation of women in financial inclusion, he said only 35 per cent of women have an account with a formal financial institution in his bank’s area of operation. (The bank has jurisdiction over Dharwad, Gadag, Haveri, Bagalkot, Belgaum, Vijayapura, Uttara Kannada, Udupi and Dakshina Kannada districts). Almost 90 per cent men have an account with a formal financial institution in its area of operation.

Stating that women are committed to work, he said they can excel in any field and can effectively deal with people, especially women. Apart from providing self-employment opportunity, the bank wants to utilize their services in inclusive growth, he said.

Women MSMEs

A press release by the bank said here that the bank has launched a scheme – ‘Vikas Mahila Shakthi’ -- for women entrepreneurs for setting up new units or business, and also for upgrading existing units or business.

The bank wants to extend loans to more than 10,000 women entrepreneurs in MSME (micro, small and medium enterprises) sector by the end of 2014-15. Each branch has been given a sub target of identifying and financing at least 20 women entrepreneurs.

He also launched a home loan scheme for economically weaker section and low-income group whose annual income does not exceed ₹2 lakh a year in urban and semi-urban areas. The loan can be repaid within 10 years with an interest of 9.80 per cent per annum. The bank is extending a maximum finance of ₹8 lakh under this scheme, the release said.

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