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Call to include micro-finance in district credit plans
Our Bureau
Mangalore
,
July 11
THE former Chairman and Managing Director of Syndicate Bank, Dr N.K. Thingalaya, has said that micro-finance should be included in the district credit plans.
Speaking at the inauguration of the new premises of Nabard's regional training college in Mangalore on Monday, he said the National Bank for Agriculture and Rural Development (Nabard) should take note of this. The growth of self-help group (SHG) movement in the country has given a new thrust to micro-finance activities. In such a situation, it is essential to consider the role of micro-finance in rural development activities.
He said that mapping of micro-finance activities should be done by branch managers of banks in villages.
Dr Thingalaya said that Nabard's potential-linked credit plan should also take note of micro-finance activities, and accord due importance to them.
Though there are around 190 regional rural banks in the country, they do not give information on micro-finance activities in their balance sheets, he added.
Inaugurating the new premises, Mr Y.S.P. Thorat, Managing Director of Nabard, said around 51,000 new SHGs, which were formed in Karnataka during the last fiscal, were linked to various banks with a credit component of Rs 501 crore.
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