Kudumbashree Mission bagged Self Help Group-Bank Linkage Programme Best Performance Award. The award is constituted by the Kerala Regional office of National Bank for Agriculture and Rural Development (NABARD). Shri.S.Harikishore IAS, Executive Director, Kudumbashree Mission received the award from Dr T.M Thomas Issac, Minister of Finance and Coir, Government of Kerala at the programme held at Thiruvananthapuram on 12 July 2019. The award was presented to Kudumbashree Mission for promoting Self Help Groups (SHG) and co-ordination with banks for SHG- Bank linkage in Kerala during the year 2018-19.
Neighbourhood Groups-Bank Linkage Programme has emerged as a cost effective mechanism for providing financial services to the poor which has been successful not only in meeting financial needs of them but also strengthen collective self help capacities of the poor, leading to their empowerment as well. Neighbourhood Groups had proved to be one of the best model that provides the opportunity to save regularly, access formal savings institutions and participate in the management of these savings. SHGs have good impact on members, in their ability to save their hard earned money.
With Multi pronged benefits, NHGs had improved women’s access to credit. The financial mobility due to participation in the SHG has led to an improvement in the quality of their lives. As many families were able to address their basic needs better than ever before. Access to credit from the bank in affordable interest became the greatest boon for poor women. Hence linking Neighbourhood Group with the banks became a prerequisite in Financial Inclusion. The two key step involved in bank linkages are opening bank account and facilitating credit linkages. Kudumbashree Mission being one of the pioneers in establishing successful SHGs (NHGs) have promoted bank linkage since the inception. This model became successful that at a certain extent poor could access finance and could meet their immediate needs.