THRISSUR: Small-scale investors are the strength of the Indian banks, said P J Kurien, Deputy Chairman of the Rajya Sabha. He was speaking after inaugurating the first anniversary of ESAF Small Finance Bank at Lulu Convention Centre, Thrissur, on Sunday. “Our banks are facing serious issues of bad debts only because of the rich people. Small investors have always been the banks’ main sustenance,” he said.
ESAF will be a model for the banking sector by linking banking with employment. While others have just started speaking about women empowerment, ESAF Society has been striving for women’s rights for the past 26 years, he said.
K Paul Thomas, Managing Director & CEO, ESAF Small Finance Bank, said economic inequality is a major issue even in today’s society. “Seventy-three per cent of India’s wealth still remains with one per cent of the population. And this inequality creates a disorder in society. ESAF has been set up to marginalise these inequalities and irregularities,” he said. Ollur MLA K Rajan, Thrissur Mayor Ajitha Jayarajan, and Deputy Mayor Beena Murali also attended the event. ESAF Co-founder Jacob Samuel, ESAF Cooperative Director Alok Thomas Paul, ESAF Society President Elizebeth John and others were present.