Nagaon HDFC Bank bags award for best performance in microfinance

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HT Bureau

GUWAHATI, Jan 23: HDFC Bank’s Nagaon Branch in Nagaon district has been adjudged the best performing branch in microfinance, Joint Liability Group (JLG) financing, in the state among private sector banks by the National Bank for Agriculture and Rural Development (NABARD).

At a function organised in the city, Assam chief minister Sarbananda Sonowal presented the award to Naba Kumar Deka, relationship manager, SLI, HDFC Bank in the presence of senior bank officials Bani Kanta Borah, regional business head, Northeast, SLI and Minoo Biswas, Zonal Head, SLI, HDFC Bank.

NABARD has been at the forefront of promoting microfinance and through the award it recognizes the banks’ endeavour in formation of Self Help Groups (SHG) and Joint Liability Groups (JLG). HDFC Bank has been working with SHGs and JLGs through its Sustainable Livelihood Initiative (SLI) to contribute meaningfully to the lives of people living at the bottom of the pyramid.

SLI is aimed at financial & social empowerment of people by providing them financial inclusion, financial literacy and skill building. The bank provides its SLI customers Market Linkage, Credit Support, Training & Capacity 1.9 lakh households in the state. Nationally, HDFC Bank has reached out to over 11 million households, thus impacting over 40 million people, which is approximately 3-4% of India’s population.

Notably, at present, HDFC Bank has 80 branches and over 130 ATMs in the state. At a national level, HDFC Bank has 50 per cent of its branches in semi-urban and rural areas and is continuously extending its reach in the hinterland in its endeavour to support inclusive growth.

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