Loans amounting to ₹22 crore disbursed to SHG beneficiaries; outreach to over 1,000 beneficiaries through government schemes and awareness initiatives
#BankofBaroda #FinancialInclusion #SelfHelpGroups #SHGMeet #WomenEmpowerment #LakhpatiDidi #RuralDevelopment #InclusiveGrowth #FinancialLiteracy #PMJDY #PMJJBY #PMSBY #APY
Chandigarh: In a significant step towards advancing women’s empowerment, grassroots entrepreneurship, and financial inclusion, Bank of Baroda (Bank), one of India’s leading public sector banks, organised a Self-Help Group (SHG) Meet and Financial Inclusion Saturation Drive in Palwal, National Capital Region (NCR).
The initiative aligns with the Prime Minister’s vision of empowering women as “Lakhpati Didis”, reinforcing the Bank’s role as a key driver of socio-economic growth and rural development in India.
High-Profile Participation and Support
The event was graced by prominent dignitaries, including Smt. Beena Vaheed, Executive Director, Bank of Baroda; Dr. Harish Kumar Vashishth, Deputy Commissioner, Palwal; Smt. Mini TM, Zonal Head – New Delhi Zone; Shri Prabhat Kumar Sharma, Chief General Manager – Operations; Shri Vishal Kumar Jain, Regional Head – Gurgaon Region; and Dr. L H Manjunath, Cluster Director.
Their presence underscored the importance of collaborative efforts between financial institutions, local administration, and the community to ensure the success of grassroots empowerment programs.
₹22 Crore Disbursed to Strengthen Women-Led Enterprises
A major highlight of the meet was the disbursement of loans worth ₹22 crore to SHG beneficiaries. This funding aims to support women-led micro-enterprises, strengthen income-generating activities, and enable members to scale their businesses.
Such financial support plays a vital role in creating sustainable livelihoods, reducing dependency on informal credit sources, and fostering economic self-reliance among rural and semi-urban women.
Comprehensive Financial Inclusion Efforts
Alongside loan disbursement, the Bank facilitated the opening of Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts and expanded outreach under flagship social security schemes, enrolling:
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510 individuals under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) – providing affordable life insurance cover.
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550 individuals under Pradhan Mantri Suraksha Bima Yojana (PMSBY) – offering accident insurance protection.
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435 individuals under Atal Pension Yojana (APY) – ensuring retirement income security for unorganised sector workers.
Additionally, awareness sessions were conducted on critical aspects of banking such as Re-KYC compliance, account nominations, and safeguarding against digital frauds.
Empowering Communities Through Knowledge and Access
Addressing the gathering, Smt. Beena Vaheed, Executive Director, Bank of Baroda, said:
“Bank of Baroda is deeply committed to promoting financial self-reliance among marginalised communities. Through our SHG-focused initiatives and a range of inclusive banking schemes, we aim to empower individuals by broadening access to banking services and promoting awareness of key government-sponsored financial schemes, enabling them to build sustainable livelihoods and secure their future. This outreach programme in Palwal is in line with the Government’s ambitious goal of empowering 3 crore women through SHGs, placing them at the heart of India’s inclusive and sustainable development journey.”
Stories of Transformation
The event drew over 1,100 participants, including numerous SHG members who shared inspiring testimonies of transformation. Many spoke about how access to formal credit, skill development support, and mentorship from Bank of Baroda had enabled them to expand small businesses — ranging from handicrafts and tailoring units to dairy farming and food processing ventures.
For several attendees, SHG participation had been the turning point in their financial journeys, providing them with the confidence to make independent financial decisions, contribute to household income, and invest in their children’s education.
Driving India’s Financial Inclusion Agenda
This initiative is part of Bank of Baroda’s long-standing commitment to rural and semi-urban development. By connecting underserved communities to the formal banking ecosystem, the Bank not only provides access to financial products but also builds financial literacy and resilience.
The SHG meet in Palwal is an example of how targeted interventions can create a multiplier effect — empowering women, strengthening local economies, and fostering inclusive growth.
Through continuous engagement, the Bank is helping to bring government-backed financial products to the last mile, ensuring that the benefits of India’s economic progress are shared equitably.
Looking Ahead
With the Government’s ambitious target of empowering 3 crore women through SHGs, initiatives like this will remain central to India’s financial inclusion strategy. Bank of Baroda has reiterated its resolve to work hand in hand with communities, state agencies, and development partners to expand outreach, enhance skills, and provide easier access to credit.
As the Palwal event concluded, it left behind not just numbers, but a strong sense of optimism — a belief that when women are empowered with the right resources, entire communities can rise together.
#BankofBaroda #FinancialInclusion #SelfHelpGroups #SHGMeet #WomenEmpowerment #LakhpatiDidi #RuralDevelopment #InclusiveGrowth #FinancialLiteracy #PMJDY #PMJJBY #PMSBY #APY #SocialSecuritySchemes #WomenEntrepreneurs
