On the occasion of the ongoing Navratri festival, Maharashtra-based Kaijs bank organized a meeting of the women saving groups associated with the bank. The meeting was presided over by the bank Chairman and MLA Prakash Awade.
Addressing the meeting he said, “The bank has decided to help women become entrepreneurs. In this connection the bank will give loans up to 25 lakhs to the saving groups. The period for paying back the loans will be 10 years”.
“Besides, the efforts are being made for the marketing of their products and in this regard, a study group has been constituted. Women also played an important role in the industrial development of the city”, Awade added.
On the occasion, the bank presented a silver idol of Maa Durga to the women connected with the savings group. Zilla Parishad member Dr. Rahul Awade Sahab, Bank Director Swapnilda Awade, Bank CEO Vijay Kamat, and others were present during the meeting.
Despite Covid-19, Maharashtra-based Kallappanna Awade Ichalkaranji Janata Sahakari Bank performed well in the 2020-21 financial year and crossed a business mix of more than Rs 3800 crore. The bank earned a gross profit to the tune of Rs 36.64 crore, which is more than double in comparison to the 2019-20 FY.
It is worth mentioning that in the span of 11 years, with over 1700 Women Saving groups 20k women are connected. The bank is giving loans between 50k to 5 lakhs to these groups and has disbursed 29 crores so far.