Daijiworld Media Network –Udupi (RD)

Udupi, Jul 25: K K Pai national award for excellence in banking was presented to V Leeladhar, renowned banker and former deputy governor of Reserve Bank of India in a function held at T A Pai Management Institute (TAPMI) campus, Manipal, here on Friday July 22.
 
K K Pai Trust trustee and managing director of Manipal Limited T Satish U Pai presented the award to V Leeladhar.

V Leeladhar in acknowledgement of award said that micro financing institutions play key role in eliminating poverty in the country.  He also urged to encourage micro financing institutions to work within the scope of possibilities. 

Micro-financing institutions are to be solely regulated by Reserve Bank of India, while a new department need to be started in the Reserve Bank of India to monitor the affairs of micro-financing institutions.  He also stressed on the caution to be taken, so that micro financing institutions don’t get into a crisis. 

Leeladhar emphasized that financial inclusion is the instrument of economic development, since it helps the poorest of poor in the country.  It generates small savings regularly.  The self-help-groups model was introduced based on this concept and lending capacity of self-help-groups was increased by banks through micro-financing supplementing, added Leeladhar. He also paid rich tributes to the late K K Pai.