Best SHG banking, Corporation Bank wins awards

Best SHG banking, Corporation Bank wins awards

Mangalore Today News Network

Mangaluru, Aug 14,2017: Corporation Bank has bagged two first prizes in the Annual Best Performance Awards for the SHG-Bank linkage Programme for Karnataka for 2015-16 and 2016-17 from NABARD.  D.M. Mujumdar, General Manager of the bank, received the awards from Karnataka Chief Secretary Subhash Chandra Khuntia at NABARD, Bengaluru.

A notification from the bank said the awards were in recognition of the overall performance under the SHG-Bank linkage programme among commercial banks operating in Karnataka. It said the bank has considered SHG lending as one of the focused areas and has encouraged formation and credit linkage of SHG groups.

It gives intensive orientation to bring about attitudinal change towards development, maintenance of books of accounts, fund management, thrift for saving, internal lending and group dynamics. It also trains groups to take up income generating activities. The groups are provided with credit facilities for new ventures.

Corporation Bank has formed more than 1.32 lakh groups till date while more than 14 lakh families have improved their income levels and standard of living, the release added.