KVG Bank wins award for solar lighting

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KVG Bank wins award for solar lighting

Close on the heels of Dharwad district winning a national award for excellent implementation of Mahatma Gandhi National Rural Employment act, another national – level award has come its way. This time, it is the Dharwad – based Regional Rural Bank (RRB) Karnataka Vikas Grameena (KVG) Bank.

KVG Bank was chosen for the award for excellent performance in implementation of the solar home lighting scheme of the Ministry of New and Renewable Energy (MNRE), Government of India, and the award was recently conferred on it.

The award has been conferred on the bank for its special scheme on promoting solar energy by providing assistance, especially to rural folk and households to help them install solar lighting systems.

Established in 2005, the Karnataka Vikas Grameena Bank came into existence with the amalgamation of the four RRBs sponsored by Syndicate Bank namely : Malaprabha Grameena Bank, Bijapur Grameena Bank, Varada Grameena Bank and Netravati Grameena Bank.

The bank operates through more than 400 branches in nine districts with close to 40 lakh customers.

The bank has twice won State – level awards from the National Bank for Agriculture and Rural Development for SHG credit – linkage and has more than 40,000 self – help groups at present.

In fact, the bank’s work on promoting solar energy started with Malaprabha Grameena Bank (part of KVG Bank now) which has been financing solar systems in 1994.

Since then, the grameen bank has financed over 15,000 systems and plans to finance more than 20,000 units this year.

Following its work, chairman of the bank K.P. Muralidharan has been nominated member of the “group for preparing Action Plan for financing solar home lighting systems in rural areas” by the Ministry of New and Renewable Energy.

Mr. Muralidharan received the award at a special function held in Vigyan Bhavan in New Delhi on Monday from Union Minister for New and Renewal Energy Farooq Abdullah.