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MoRD confers HDFC Bank as ‘Best Performing Bank’ in SHG Linkage

As part of National Rural Livelihood Mission, HDFC Bank provides access to financial services to over 4.5 lakh individuals in unbanked and underbanked sections of society
MoRD confers HDFC Bank as ‘Best Performing Bank’ in SHG Linkage
MoRD confers HDFC Bank as ‘Best Performing Bank’ in SHG Linkage by NRLM

HDFC Bank has been adjudged Best Performing Bank in SHG Linkage by National Rural Livelihood Mission (NRLM), Ministry of Rural Development, Govt of India recently.
 
At a function organised in New Delhi, the ‘Best Performing Bank’ award was presented by Giriraj Singh, Union Minister for Rural Development to K Venkatesh, Head – Sustainable Livelihood Initiative, HDFC Bank. Notably, HDFC Bank was the only private bank to be felicitated for the work in SHGs – by the National Rural Livelihood Mission (NRLM).
 
A self-help group (SHG) is a lending model with a group of small-time women entrepreneurs coming together for a loan, where the repayment is a collective responsibility of each member in the group. Self-help group emphasises on the concept of group cohesion and bonding. Due to this structure, SHG is an evolved group with strong group linkage in place.
 
Given the structure, Govt of India started National Rural Livelihood Mission (NRLM) in 2011 as a poverty alleviation project implemented by the Ministry of Rural Development. NRLM’s focus is to promote self-employment and create sustainable livelihood opportunities for the rural poor.
 
As part of NRLM, HDFC Bank provides access to financial services to over 4.5 lakh individuals in unbanked and underbanked sections of society. The Bank has signed MoUs with State Rural Livelihood Missions (SRLMs) of six states, namely Assam, Chhattisgarh, Maharashtra, Punjab, Rajasthan and Uttar Pradesh.
 
Under the National Rural Livelihood Mission, the bank has offered advances over Rs 1,000 crore – as on February 2022.

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