Microfinance Focus, January 5, 2012: Kolkata based microfinance institution Bandhan Financial Services has today won the Skoch Financial Inclusion Award 2012 for the initiative it has taken in the field of education. The award was presented to Mr. Chandra Shekhar Ghosh, Founder & Mentor, Bandhan.

Bandhan had won the Skoch Challenger Award in March 2008 and the Skoch Financial Inclusion Award in 2011 as well.

Skoch Financial Inclusion Awards seek to recognize best practices from the banking and financial services sector for promoting inclusive growth and poverty alleviation from across urban and rural India. The awards ceremony took place in New Delhi today to mark the Financial Inclusion Day.

The program that helped Bandhan earn the accolade is ‘Bandhan Education Program’ (BEP). Bandhan has been involved in delivering services in this crucial area of education since 2008. This program is run by the not-for profit entity of Bandhan.

The above program does not enjoy any donor support. However, the stipend that Mr.C.S.Ghosh, Founder & Mentor receives as Senior Ashoka Fellow is fully contributed towards running the program. That apart, the organization has a policy of setting aside 5% of the surplus of microfinance operations for supporting development activities like these.

Through its education program, Bandhan encourages a diverse age group of underprivileged children to begin and sustain academics amidst a congenial environment. The entertainment approach enables students to acquire knowledge and awareness through interactive program. Below are some shots from the field.

Bandhan was also given a certificate of merit for its education initiative. The program has been rated amongst top 50 financial inclusion projects in India during 2011 in an assessment across government, corporates, financial and public sector: it is also found worthy of being published as a case study in Inclusion magazine.