Considering the needs of the speedy credit linkage and assisting the Self Help Groups in various documentation procedures and keeping records and necessary skill building, Bank of Maharashtra has opened its specialized branch for Self Help groups. The deputy Governor of RBI Dr Subir Gokarn on Sunday inaugurated Bank of Maharashtra’s first specialized SHG Branch in Pune.
The newly opened SHG branch will take care of formation of new SHGs, opening of their accounts with the branches, their credit linkage, monitoring, guiding and assisting them in marketing of their products. Talking on the occasion, Subir Gokarn emphasized the need of empowering the women and providing them financial strength. Concept of Self Help Group is a right step in this direction and he appreciated the efforts of Bank of Maharashtra in establishing an exclusive branch of SHG.Gokarn added, "SHG branch concept is a recognition of the growing SHG community and felt that many more initiatives like this should be taken up."
Asish Saha, Director, National Institute of Bank Management, Pune, who graced the function, said that out of Rs 6198 crores saving by SHG , women SHG accounted for nearly 73 per cent and out of which Rs 14453 crore of loan approved to SHG ‘s by banks Rs 12,429 crore were allotted to women SHG’s , which went to prove beyond doubt that women SHG were important in the country’s economy.