Rural Development Ministry signs MoU for bigger loans for women enterprises
Deendayal Antyodaya
Yojana-National Rural Livelihood Mission (DAY NRLM) under Ministry of Rural
Development signed Memorandum of Understanding with nine Public Sector Banks
and one Private Bank. These Banks are Bank of Baroda, Bank of India, Bank of
Maharashtra, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas
Bank, Punjab National Bank, UCO Bank and IDBI Bank Limited.
These Banks have designed specific products for
financing individual women entrepreneurs under the fold of DAY-NRLM. The loan
products so designed will help women avail bigger ticket size loans for scaling
up their enterprises. This move is in lines with the realisation of goal of
making Lakhpati Didi, as announced by the Prime Minister Shri Narendra Modi.
Secretary, Rural
Development Shailesh Kumar Singh advised Banks to leverage this opportunity to fund women SHG
members with improved assets to start their economic activities in rural areas. This initiative will go a long way in providing employment
in the rural areas and a number of women SHG members will be benefitted.
Additional
Secretary, Rural Development Charanjit Singh said that banks to make their
branch officials aware about the specific products designed by them so that the
rural women do not face difficulty in getting finance at the branch level.
DAY NRLM has witnessed SHG Bank linkage grow leaps and
bounds as the programme evolved. More than Rs 9.5 crore loans have been
extended by Banks to the self-help groups since the start of the Mission. The
move of extending individual loans is a strategic shift in the programme
indicating how women have graduated from small enterprises and are aspiring to
scale up higher order enterprises.