Kudumbashree signs MoU with Union Bank for the disbursement of fast linkage loans to NHGs

Posted on Tuesday, September 20, 2022
Kudumbashree has signed Memorandum of Understanding (MoU) with Union Bank for the disbursement of fast linkage loans to NHGs. Shri. Jafar Malik IAS, Executive Director, Kudumbashree and Shri. Raveendra Babu, General Manager, Union Bank signed the MoU in this regard.  The aim of the association is to provide loans to as many NHGs as possible. For this purpose, the banks will collect the information of the NHGs in need of loans from the respective District Mission offices and intensify the loan distribution programme. The bank will make relaxations in the existing procedures for opening new accounts and providing linkage loans to NHGs.   
 
The branch authorities of the bank will directly collect the information of the eligible NHGs from Kudumbashree. For this, Kudumbashree will identify NHGs who have completed grading and are eligible for loans. Kudumbashree will also ensure the proper repayment of the NHGs after receiving the loan. Along with the quick access to the linkage loans, Union Bank will also take over existing loans from other banks and financial institutions for NHGs. This will be subject to the Bank's prescribed guidelines.
 
Shri. Anish Kumar M.S, State Programme Manager, Kudumbashree and Shri. Raveendra Babu, General Manager, Union Bank exchanged the MoU, on behalf of Shri. Jafar Malik IAS, Executive Director, Kudumbashree. Shri. Sujith S Thariwal, Regional Head, Union Bank and Shri. Sijin B.S Rural Development Officer, Union Bank also attended the function. 
 
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Kudumbashree signs MoU with Union Bank for the disbursement of fast linkage loans to NHGs