Konoklota Mahila Urban Co-operative Bank Limited (KMUCBL) is a pioneering institution that stands as a testament to the unwavering spirit of women in Assam.
Established in 1998, KMUCBL is the state’s first and only all-women co-operative bank, driven by the noble pursuit of women’s empowerment and financial inclusion.
About Bank
The Konoklata Mahila Urban co-operative Bank, Jorhat was established in 1998. It is the first Women’s bank in the state. The bank’s lending facility is exclusively for women though men are allowed to deposit as per the instructions of RBI.
It encourages women to save safety and security. It also meets their credit needs for consumption as well as for production purposethrough various attractive schemes of loans as approved by the RBI. Being a primary co-operative bank, it generates employment both in urban and rural areas.
The Konoklata Bank Co-operative Bank was started by 52 promoter members in the year 1990 and the initiator was Mrs. Lakhmi Baruah.
The primary objective of the bank is to provide all commercial banking facilities including safe empowerment by providing opportunities for self employment. Another objective is to popularize thrift and banking habit among women.
Empowering Women
KMUCBL’s primary objective is to uplift the weaker sections of society, particularly women, by providing access to financial services, fostering financial literacy, and nurturing self-help groups.
The bank’s commitment to financial inclusion is evident in its customer-centric approach, offering zero-balance accounts, minimum deposit requirements, and a wide range of deposit schemes, making banking accessible to even the most modest income earners.
Economic Development
KMUCBL’s impact extends far beyond financial transactions. It mobilizes unorganized resources, contributing to the nation’s economy and uplifting the per capita income of the marginalized. Under the NBCFDC scheme, it provides loans at a mere 4% interest rate, empowering women to engage in agriculture, non-farm activities, and micro and small industries.
Important Contributions
KMUCBL’s unwavering support for women’s development has earned it prestigious accolades, including the Nari Shakti Award from the Ministry of Women & Child Development, Government of India, and the “Devi Ahilyabai Holkar Award” from the then President of India, Mr. Pranab Mukherjee.
A vision for Future
KMUCBL’s vision extends to becoming a state-level Mahila Bank, establishing branches in every district of Assam, with a central office in the capital city of Dispur. This expansion will empower millions of women, transforming the state’s economic landscape.
Konoklota Mahila Urban Co-operative Bank Limited stands as a beacon of hope, illuminating the path towards financial inclusion and self-reliance for women across Assam. Its unwavering commitment to empowerment and its dedication to the upliftment of the marginalized serve as an inspiration to all.
