Jorhat Deputy Commissioner Roshni A Korati handed over sanction letters for promotion of 1000 Joint Liability Groups to Lakhimi Baruah, MD of Konoklota Mahila Urban Co-operative Bank Limited (KMUCB).
KMUCB in Jorhat is the only all women’s bank of the Northeast.
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Korati appreciated NABARD for extending support for women’s empowerment in the district through JLG programme which will enable about 10000 women in all the six blocks of Jorhat and three blocks of Sivasagar districts to have access to loans for various livelihood activities from KMUCB Limited.
The ceremony was organized by NABARD Jorhat District office at the Deputy Commissioner’s office in Jorhat on Friday,
A Jorhat district administration official informed that the grant assistance support for promotion and credit linkage of the JLGs was extended by NABARD for Rs 20 lakh under its Joint Liability Promoting Institution Programme.
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The JLG scheme, conceptualized by NABARD started in 2005 for providing micro-credit loans to farmers, especially small, marginal, tenant farmers, oral lessees, micro-entrepreneurs, artisans in farm and non-farm sectors, is implemented by banks as per guidelines issued by RBI.
Korati congratulated Lakhimi Baruah, the founder of the bank, and her team for their efforts and assured all possible support from her office. She (DC) also advised DDM NABARD K Vaiphei to support district administration in identifying women and entrepreneurs engaged in food-processing activities with annual turnover below Rs 12 lakh for getting them officially registered under food safety guidelines, the official said.
Baruah, who founded the women bank in 1998 in Jorhat with a seed capital of Rs 8.45 lakh only, shared her experiences and thanked the Deputy Commissioner for her encouragement and assurance of support, the official informed.
Baruah disclosed that KMUCB currently has more than 42000 accounts with a deposit of Rs 8.82 crore and Rs 8.40 as advances giving a CD ratio of 95.24, the official stated. Chief Manager PNB Circle Office, Jorhat, DP Narzary also attended the function.