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UBI promotes a New
Urbanized SHG Model
New Delhi November 27, 2006
Union Bank of India with an impeccable
record and mission to meet the aspirations of various strata
of society has launched a number of initiatives in the rural
area for encouraging empowerment of the local population.
Applying the SHG route in extending finance, the Bank has
formed nearly 80,000 Self Help Groups out of which
approximately 47,000 are credit linked. The Credit assistance
involved is Rs. 253 crore.
The Bank has found a novel application of the SHG model by
introducing it in the city of Mumbai – the first such
initiative in a metro. Started in 2005, today there are 213
SHGs in Mumbai making 3000 persons self-reliant.
On 24th November 2006 , the Bank organized a "Vyapar Mela"
at Chembur, Mumbai with an audience of SHGs and traders
engaged in the sale of the products. The Bank seeks to
facilitate access to markets by the SHG's which after a direct
dealing with the traders are able to get an improved return
and therefore can be equally replicated in the urban and metro
areas to fulfill the financing the needs of the under
privileged and needy.
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