Banking

Empowering weaker section of society

Views: 218

IMG_3186 (1)Narmada Jhabua Gramin Bank (NJGB), Chairman, K V Raghavendra, in an interview with The Banking and Finance Post magazine, talks about strengths of the bank and key strategies to take NJGB to new heights. The NJGB Chairman also explains the Bank has emerged as one of the leadings banks in western Madhya Pradesh. Excerpts:

As we know the Narmada Jhabua Gramin Bank is operating in 14 districts of western MP with a network of 373 Branches and six regional offices. What are your plans to expand your presence and what kind of new services you are planning to roll out for your customers?
The bank is expanding the network of branches by minimum 10 per cent per year. We are coming up with many new services for our customers like net banking, SMS alerts, mobile banking and health and other insurance facilities. Our extensive presence in the Western MP is out USP. We are a leading bank, offering diversified services.

What are your plans to financially empower weaker section of the society?
We are rendering banking services to weaker section of the society to improve their economic strength. Our bank is also proactively participating in the government sponsored schemes like Mukhya Mantri Awas Yojna, Mukhya Mantri Yuva Swarojgar Yojna, PMEGB and NRLM. We have taken several initiatives in the last three years for effective implementation of poverty alleviation programmes. We have been implementing various government sponsored schemes with a new zeal as a result of which we possess good quality of assets financed under the various schemes. We have over 40,000 SHG groups, of which more than 13000 groups are credit linked. The Narmada Jhabua Gramin Bank has pioneered in implementing all social security schemes. We have also received five National/State Level Awards during the last two years for the contribution we have made in the FI sector and implementation of various Livelihood Schemes.

What kind of challenges you are facing amidst competition from other banks?Though Regional Rural Bank’s are now competent enough to cater the financial need of all section of societies, yet, there are few constraints like difficulty in upgrading our technology, systems and processes since we have to follow age old procedures and several guidelines of the government and regulators. Without state of the art technology, we find it difficult to mobilise low cost deposits especially CASA. However, our excellent customer services and cliental friendly products are our strength due to which we are competing with all other banks effectively.

Can you share your strategies to emerge as a leading bank in the region? Tell us something about your future projects which are in the pipeline.
Our major strategies include providing all the facilities at door steps through our KIOSK centers with updated technological facilities like Micro ATMs/POS, women empowerment through Bank’s “Sakhi Samaveshan Project”, SHG Movement and Joint liability groups concept, providing finance for innovative agricultural projects like, poly-house, Agri. Clinic and Horticulture to enhance farm income. Our focus will be on Housing, MSME and other retails banking sector.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

To Top