3
S
HGstartedas aproject andhas nowbecome awidespread
movement across India. This phenomenal growth is
the result of right conceptualization, accommodating
diversities in socio-economic ecosystem and systematic
implementation by aligning stakeholders – public, philanthropy,
government & banks – with diverse objectives. I believe it is the
largest initiative continued to prove successful even after 25
years of commemoration. I attribute the success to NABARD for
its constant endeavours like SHG2, EShakti, etc., which make
SHG concept relevant to the changing time.
HDFC Bank committed for inclusive growth devised “Sustainable
Livelihood Initiative” (SLI) with a mandate of bringing self-
sustainability in 10 million families at the Bottom of the Pyramid
by offering holistic services which include financial literacy, credit
Shri Aditya Puri
Managing Director, HDFC Bank Ltd.
counselling, livelihood training and market support besides
savings, credit & insurance. SLI is an exclusive business vertical
and has adopted group model. More than 68 lakh families have
benefited so far.
SHG concept can be aligned to current information era;
penetration of mobile, Aadhaar & Jan dhan accounts can be
leveraged for the better SHG linkages. Credit Bureau reporting
and SHG registry can help in scaling up. Prevailing interest cap
on SHG lending may be removed and banks may be permitted to
determine the rate which can make group lending a compelling
business proposition.
I record my best wishes to NABARD on completion of 35 years of
service.
