Creditable progress

8220;The bank was founded by the late Vivek Ganesh Dadhe, and his wife, Meenakshi, on March 24, 1974. The intention was to draw the people away from the clutches of the money-lender, educate and guide them about savings. The women, especially, have always been perceived as inferior, but they are the ones who save. Since they are not well-versed in banking operations, they tend to be pushed into the background. But while they may be uneducated, they are certainly not illiterate, they only need confidence,8221; says Pramila Garud, chairperson.

It was important to bring women into the fold. And hence the concept of a bank run by women took birth, which would make it easier for women to identify with. 8220;We give priority loans to women from all strata 8211; loans for education, houses and business, from vegetable sellers to industrialists, from the illiterate to the highly qualified. We study their projects, take personal interviews and then decide on the amount. Of course, anybody can bank with us, there is no rule that it is only for women customers,8221; she adds.

Garud has been an active member since the bank8217;s inception. 8220;When we started the bank, we had to work hard on the collection of deposits, go from house to house and meet clients. Most people looked at us with disbelief. The idea of women conducting banking operations amused them,8221; she recalls.

8220;We did a lot of propaganda at temples, mandals, schools and preached the importance of savings. I remember, we used to sit on satranjees in our Narayan Peth premises and work at the accounts. Now the system is computerised. The response grew steadily, and today, we have nine branches and Rs. 175 crore as deposits, with Rs. 100 crore as debts,8221; she says with pride, figures which the RBI itself took note of recently.

The success of a bank rests on its ability to retrieve loan payments. 8220;According to the Narsimhan Committee, if one can8217;t get the money back, then the bank has to pay from the profit. The secret of our success is that our retrieval capacity is 99 per cent, and we have never asked the RBI for extra facilities or concessions just because we are women,8221; says the bank8217;s managing director, Rekha Bhat.

Bhat and the previous directors have all shaped a bank whose USP is clean dealings8217; and gaining the trust of its shareholders. The shareholders are invited to give suggestions, and discuss issues at meetings. Besides this, training and lectures by experts are held regularly.

Today, the bank gets visitors from other parts of the country as an adarsh bank. 8220;The word nivedita8217; itself means samarpan. Bhagini Nivedita was Swami Vivekananda8217;s disciple, who renounced her country and religion and worked for the upliftment of the downtrodden in India. We chose the name because we felt she was a role model,8221; explains Garud.

The bank8217;s staff comprises mostly women, a few male peons and security guards. They are chosen on the basis of merit, but the bank does take into consideration the women8217;s background. If two women have the same qualifications but one needs8217; the job, they favour her, because the policy of the bank is such. Says Bhat, 8220;Women do have problems 8211; of mobility, security and then maternity. Which is why we have taken the precautionary measure of extra staff members, so that banking operations never suffer.8221;

But the bank does not plan to rest on its laurels. It is ready to face the approaching new millennium with confidence. A part of the bank8217;s profits will be reserved for social welfare projects, now that the bank is well-settled. Medical aid programmes, donations to the blind and aged and the Alcoholics Anonymous are also on the anvil. The sky is the limit for these indefatigable ladies.