New Delhi: Dharmasthala based NGO Shri Kshethra Dharmasthala Rural DevelopmentProject ® (SKDRDP) has been awarded the prestigious Microfinance India Award 2010 by the Hongkong based HSBC Bank and Access Development Services in a glittering function organized at the Hotel Ashoka, New Delhi on 15.11.2010 on the occasion of two day All India Micro Credit Summit.
At a time when the micro finance sector is being affected due to governance issues, the works of SKDRDP has been recognized for its low operational costs, efficient administration, rapid scaling up, social services provided by the institution and its concern for poverty alleviation through micro credit.
SKDRDP, three decade old organization promoted by Dr.D.Veerendra Heggade, Dharmadhikari of Shri Kshethra Dharmasthala commenced micro finance operations in 1995 to rapidly scale it up after 2003. At present the organization is active in nine districts of Karnataka with client outreach of 12,00,000 families and a Self Help Groups (SHGs) base of 1,17,000.
The organization is the sixth largest micro finance institution in India and biggest in the NGO sector globally. SKDRDP is also welknown in the sector for its lowest interest rates charged to SHGs and services provided to facilitate utilization of the credit services. The organization has an outstanding portfolio of Rs.850.00 crores as on 30.9.2010.
Announcing this Dr. L.H.Manjunath, Executive Director of SKDRDP congratulated the President of SKDRDP Dr.D.Veerendra Heggade, the trustees, the stakeholders and participating commercial banks on the occasion and hoped that the SKDRDP model will motivate the others in the sector to come out with its low interest, low cost micro finance products.