New Delhi/Dharmasthala : The Sri Kshetra Dharmasthala Rural Development Project (SKDRDP) BC Trust has been conferred with the prestigious MSIE Banking Excellence Award 2024 for its contribution to financial inclusion and rural economic empowerment. The award is presented by the Indian Association of Micro, Small, and Medium Enterprises (MSME) in recognition of outstanding achievements in the banking service sector. Union Minister of State for Finance Pankaj Chaudhary presented the award at a ceremony in New Delhi.

SKDRDP BC Trust functions as a Business Correspondent (BC) for several banks, as per the guidelines of the Reserve Bank of India (RBI). It plays a crucial role in SHG-Bank Credit Linkage Programs, facilitating direct and low-interest loans to self-help groups (SHGs) in rural areas. Recognizing that it is impractical for banks to establish branches in every village, the Ministry of Finance and regulatory bodies have appointed BCs to bridge the financial inclusion gap.

Through its initiatives, SKDRDP BC Trust has enabled millions of rural individuals, including farmers, women, and entrepreneurs, to access microfinance for self-employment and small-scale enterprises. Under the SIDBI PRAYAAS scheme, SKDRDP has facilitated loans amounting to ₹1,971 crore to over 56,057 beneficiaries, supporting micro-enterprises and cottage industries.

Several leading banks, including the State Bank of India, Bank of Baroda, and Bank of Maharashtra, were also recipients of the award.