The award was handed over by Dr. Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance, Government of India, in the presence of Mr. Tamal Bandyopadhyay, Consulting Editor, Business Standard; Mr. Vipin Sharma, CEO, ACCESS Development Services; and Smt. Aloka Majumdar, Head of Corporate Sustainability, HSBC.
Bengaluru, January 4, 2024: Dr. Kalpana Sankar, Managing Director of Belstar Microfinance Limited, was honored with the ‘Lifetime Contribution to the Sector by an Individual’ Award during The Inclusive Finance India Award 2023, instituted by ACCESS & HSBC India along with the Ministry of Financial Services, Government of India.
The award was handed over by Dr. Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance, Government of India, in the presence of Mr. Tamal Bandyopadhyay, Consulting Editor, Business Standard; Mr. Vipin Sharma, CEO, ACCESS Development Services; and Smt. Aloka Majumdar, Head of Corporate Sustainability, HSBC.
In partnership with HSBC India, The Inclusive Finance India Award is a flagship initiative by ACCESS Development Services, which was institutionalized in 2009 in partnership with HSBC India. The Inclusive Finance India Awards were instituted to recognize the larger contribution of thought leaders and individuals, and the initiative aims to celebrate and encourage deserving institutions to continue to enhance outreach to the poor by way of motivating management and staff through recognition of their painstaking efforts and enhancing the credibility of the institution, thereby making it more attractive for funding.
This award was conferred on her in recognition of her outstanding contribution to the advancement of financial inclusion in India. The award committee acknowledged that Dr. Kalpana’s influence reaches far beyond the borders of India. Her guidance has been instrumental in establishing financial inclusion initiatives in South Africa, Afghanistan, and Brazil, showcasing the global impact of her work.
With a double doctorate in nuclear sciences and also in women’s studies and self-help groups, Dr. Kalpana is also the managing trustee of Hand in Hand India. As the Managing Director of Belstar Microfinance Ltd., Dr. Sankar has successfully built a loan book of INR 8,000 crores in over 10 years with stable portfolio quality and client connections. As a consultant to the government, she has actively contributed to programs aimed at poverty reduction, job creation, and microfinance in India. Her notable efforts towards women’s empowerment, child welfare, and poverty reduction have transformed the lives of millions.
Speaking on the achievement, Dr. Kalpana Sankar, Managing Director, Belstar Microfinance Limited, said, “I am very grateful and honored to receive the ‘Lifetime Contribution Award to the Sector by an Individual’ by ACCESS Development Services and HSBC India. The award is a testament to the collective dedication and passion of my team at Belstar Microfinance and Hand in Hand India, who have helped to reshape finance paradigms. This recognition fuels our passion to continue crafting a brighter financial inclusion landscape, empowering women and future generations. Together, let’s empower communities and pave the way for equal opportunities.”
An inspirational leader with passion, empathy, and integrity, Dr. Sankar has been a recipient of several awards, including the Nari Shakti Puraskar-2016, bestowed by the Government of India for her contribution to the empowerment of vulnerable and marginalized women. She has been a consultant with the United Nations Office for Project Services (UNOPS), the United Nations Development Programme (UNDP), and Wetlands International, besides functioning as the Monitoring and Evaluation Officer for the International Fund for Agricultural Development (IFAD) in Tamil Nadu. She has also authored publications on child labor, microfinance, and self-help groups.
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