Karnataka Vikas Grameen Bank Launches Bank Sakhi Scheme

Karnataka Vikas Grameen Bank Launches Bank Sakhi Scheme To ensure greater participation in financial inclusion in rural areas, the Karnataka Vikas Grameen Bank (KVGB) has come out with an innovative method of employing women in villages to promote and popularize cashless transaction. The bank launched a scheme named ‘Bank Sakhi’ at a programme held at Adavi Somapura village in Gadag

district of Karanataka. Under the initiative, the bank would Karnataka Vikas Grameen Bank Launches Bank Sakhi Schemeappoint women business correspondents called “Bank Sakhi” in select villages where this scheme would be implemented.  Bank chairman S. Ravindran said that the bank has already hired 11 “Bank Sakhis” and had plans to appoint a minimum of 50 such women in different districts. A “Bank Sakhi” is someone who has been a member of a self-help group involved in conducting banking and book-keeping activities of the group.Bank Sakhi will be responsible to provide a range of financial services on behalf of the bank to her community. She will be supported by the local self-help group which provides capacity enhancement, training and financial awareness in the community. She would be paid a commission by the bank for different services.

Karnataka Vikas Grameena Bank (KVGB) :

♦ The Karnataka Vikas Grameena Bank (KVGB), a Regional Rural Bank, was constituted on 12 September 2005.

♦ The Bank has its head office at Dharwad under the sponsorship of Syndicate Bank.

♦ KVGB has 614 branches in Dharwad, Haveri, Gadag, Vijayapura, Bagalkot, Belagavi, Uttara Kannada, Udupi and Dakshina Kannada districts of Karnataka.