Media Release

Beltangady, Nov 17: Dharmasthala based non-government organization Shri Kshethra Dharmasthala Rural Development Project (SKDRDP) has been awarded the prestigious Microfinance India Award
2010 by the Hongkong based HSBC Bank and Access Development Services in a function organized at the Hotel Ashoka, New Delhi on Monday November 15 on the occasion of two-day All India Micro Credit Summit.

At the time when the micro finance sector is being affected relating 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 Dharmasthala dharmadhikari Dr D Veerendra Heggade 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 ` 850.00 crores as on Sptember 30, 2010.

Announcing the same, Dr L H Manjunath, executive director of SKDRDP congratulated the president of SKDRDP Heggade, the trustees, the stakeholders and participating commercial banks on the occasion and hoped that the SKDRDP model will be motivated by the other in the sector to come out with its low
interest, low cost micro finance products.