Himachal Pradesh State Cooperative Bank has once again brought pride to not only the state but also the entire nation by getting a place in the official document of G20 Brazil for the multi-dimensional loan scheme being run in the direction of women empowerment.
Giving information about this, the Chairman of the bank, Devendra Shyam, expressed happiness and said this achievement is the first time in the history of the bank that it has registered its presence on the world stage.
He said that in the G20 Brazil World Summit, Himachal Pradesh State Cooperative Bank is the only cooperative sector bank of the country which was nominated as a B20 member bank in this meeting.
During the recently concluded G20 Brazil meeting in Brasilia, the Bank’s Chairman Devendra Shyam and Managing Director Shravan Manta participated and shared the loan scheme being run by the Bank for women empowerment and upliftment with the delegates from across the world present at the conference.
In view of the basic features of this loan scheme, all the delegates recommended including this scheme in the policy document of G20 Brazil.
In his comment, Managing Director of the bank, Shravan Manta said that this scheme being run by the bank is being successful in promoting micro, small and medium businesses as well as promoting domestic industry related activities at the local level.
The bank has so far distributed an amount of about 56 crores by adding more than 26000 women borrowers under this scheme.
Manta said that the bank has taken an important step in view of the safety of these women and has taken the initiative to provide them accidental insurance cover of up to Rs 30,00,000 (thirty lakhs) at a very nominal annual premium.
This step will provide financial help to the dependents on receiving the insurance amount in case of death of the borrower in an accident.