National Bank for Agriculture and Rural Development (NABARD) has awarded HDFC Bank’s Nagaon Branch in Assam for being the best performing branch in microfinance (Joint Liability Group financing) in the state among private sector banks.
At a function organized in Guwahati, the 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) for contributing meaningfully to the lives of people living at the bottom of the pyramid, the bank said in a statement.
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.
At present, HDFC Bank has 80 branches and over 130 ATMs in the state.
At a national level, HDFC Bank has 50% 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.
As of December 31, 2020, the bank had a nationwide distribution network with 5,485 branches and 14,533 ATMs in 2,866 cities/towns, the statement said.