Karnataka Vikas Grameena Bank (KVGB), a government-owned financial institution in India, has financed INR 61.38 crore (USD 1 million) worth of solar products in the Indian state of Karnataka since 1994. KVGB has partnered with Harish Hande, the founder of solar social enterprise Selco India, on the effort to provide solar electricity products and solar water heaters. The project, called Namma Manege Nammade Belaku (Our House, Our Light), reached its 100th village in March 2012 when it began serving the village of Devagiri. As part of the effort, KVGB has reached 34,100 houses in nine districts of Karnataka.
As of March 2011, KVGB reported total assets of INR 74.9 billion (USD 1.5 billion).
By Charlotte Newman, Research Associate
About Karnataka Vikas Grameena Bank
Karnataka Vikas Grameena Bank (KVGB) is a government-owned bank in India that was established in 2005 upon the amalgamation of four regional-rural banks affiliated with the Syndicate Bank in Karnataka, India: Malaprabha Grameena Bank, Bijapur Grameena Bank, Varada Grameena Bank and Netravathi Grameena Bank. As of 2010, the bank had 448 branches in nine districts of the Indian state of Karnataka. As of March 2011, KVGB reported total assets of INR 74.9 billion (USD 1.5 billion).
Sources and Additional Resources:
Business Standard: “Village Life Lit Up By Solar Power,” http://www.business-standard.com/india/news/village-life-litby-solar-power/466821/
MicroCapital.org story, October 1, 2011, “MICROCAPITAL BRIEF: Prathama, Aryavart Gramin, Gomti-Kashi Banks Bring Solar Lighting to India’s Rural Villages Through Microfinance,” https://www.microcapital.org/microcapital-brief-prathama-aryavart-gramin-gomti-kashi-banks-bring-solar-lighting-to-india%E2%80%99s-rural-villages-through-microfinance/
MicroCapital Universe Profile: Karnataka Vikas Grameena Bank
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Karnataka+Vikas+Grameena+Bank
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