36th Foundation Day of NABARD celebrated on July 11 2017

Union Finance Minister, Arun Jaitley was the Chief Guest on the occasion of 36th Foundation Day of National Bank for Agriculture and Rural Development (NABARD), celebrated at Vigyan Bhavan in New Delhi on July 11, 2017.

• NABARD dedicated this day to celebrate the Silver Jubilee (25 years) of Self Help Group Bank Linkage Programme (SHG BLP).
• Policy makers, thought Leaders, self help promoting institutions, banks and women leaders who played important role in the success of the programme were felicitated by NABARD on this occasion.
• The event was attended by senior officials of Central and State Governments, Reserve Bank of India, and programme channel partners viz. Banks and NGOs.

Details about Self Help Group Bank Linkage Programme (SHG BLP) by NABARD:

Self Help Group Bank Linkage Programme (SHG BLP) is a pioneering initiative of Financial Inclusion by NABARD.

• The pilot stage of this programme was started in year 1992. Since then, more than 10 crore rural families have been covered under this programme.
• As on 31^stMarch, 2017 these groups had savings of more than Rs 16,000 crore in banks and double of that amount in their internal lending.
• The Program has sourced collateral free loans to the tune of Rs 61,000 crore to poor women from the mainstream banking system at the normal rates of interest.
• So far, 5 crore rural women have become direct participants in this programme.
• The programme has thereby managed to deliver the savings and credit services at the doorstep of rural poor especially women through their self-managed institutions called SHGs.
• SHG Bank Linkage Programme is the world’s largest of its kind geared towards providing savings and credit services to rural families.

Quick Facts about NABARD:

• Established on: July 12, 1982
• Headquarters: Mumbai
• Current Chairman: Dr. Harsh Kumar Bhanwala