In a significant recognition of its work in bridging the banking gap, the Shri Kshetra Dharmasthala Rural Development Project (SKDRDP) BC Trust has been honored with a prestigious national award. The institution received the 'Best MSME Promoting Institution in the BC Model-2025 Award' from the Chamber of Indian Micro Small & Medium Enterprises (CIMSME).
A National Honour for Rural Banking Excellence
The award ceremony took place in New Delhi, where Union Minister of Commerce and Industry, Piyush Goyal, presented the accolade. The SKDRDP BC Trust stood out as the only Business Correspondent (BC) institution in the country to receive this distinction for the year. The trust's trustee, D Surendra Kumar, accepted the award on behalf of the organization.
During the event, Minister Goyal praised the pioneering BC activities initiated by Dharmasthala Dharmadikari D Veerendra Heggade. The jury for the awards included esteemed members such as retired Supreme Court judge Deepak Verma, underscoring the rigor of the selection process.
The Vital Role of Business Correspondents
The Business Correspondent model is a cornerstone of India's Financial Inclusion programme. Recognizing that it is not feasible for banks to open branches in every village, the Ministry of Finance and financial regulators introduced this framework. Under it, entities like SKDRDP BC Trust are authorized to provide essential banking services on behalf of banks in remote areas.
Appointed as a Business Correspondent by various banks, the SKDRDP Trust implements crucial schemes like the 'SHG Bank Credit Linkage Programme'. Its primary mission is to facilitate access to formal credit for the underserved populations in rural India.
Massive Impact on Rural Economy and MSME Growth
The impact of SKDRDP's work is both profound and quantifiable. The trust has been instrumental in securing loans at very low-interest rates from banks for countless self-help groups (SHGs). This financial support has empowered farmers, women, and the economically disadvantaged to pursue self-reliant livelihoods.
By creating millions of agricultural and self-employment opportunities, the initiative has become a powerful engine for rural development. To date, the trust has facilitated financial assistance worth a staggering Rs 33,678 crore through its banking partners.
In the last financial year alone, its efforts enabled loan facilities for approximately 4,41,000 individuals to kickstart self-employment and other income-generating activities. This massive outreach represents a substantial contribution to the growth and strengthening of the Micro, Small, and Medium Enterprises (MSME) sector across the nation, particularly in Karnataka's hinterlands.
