Government sets up women’s bank in Rajasthan, A Bank run by women for women
Government sets up women’s bank in Rajasthan: Rajasthan Grameen Aajivika Vikas Parishad (RGAV) and Stree Nidhi-Telangana signed an agreement to set up a financial institution for women in Rajasthan. You can check important points related to women’s bank given below. Click here to join telegram study group →
Women’s Bank in Rajasthan: Important Points
#1) ‘Rajasthan Mahila Nidhi’ is being set up in the state on the lines of Telangana’s Stree Nidhi model.
#2) Chief minister Ashok Gehlot had announced in the state budget 2022-23 for setting up a bank run by women.
#3) It is assumed that after Mahila Nidhi’s establishment, women’s economic empowerment would get a boost and they would be able to get loans for their enterprises. The number of loan applications pending in banks will also come down.
#4) The minister said that this fund would be operated by the women SHG (Self Help Group) for the women of SHG only.
#5) Rajasthan Mahila Nidhi will act as a complementary financial institution with formal banks.
#6) RGAVP is an autonomous society established by the government of Rajasthan under the administrative control of the Department of Rural Development.
Stree Nidhi Telangana
- Stree Nidhi credit cooperative Federation Ltd., is promoted by the Government and the MandalSamkahyas to supplement credit flow from banking sector and is a flagship programme of the Government.
- Stree Nidhi provides timely and affordable credit to the poor SHG members as a part of the overall strategy of SERP for poverty alleviation.
- SHGs are comfortable to access hassle free credit from Stree Nidhi as and when required using their mobile and therefore do not see any need to borrow from other sources at usurious rates of interest.
- Stree Nidhi is in a position to extend credit to the SHGs even in far flung areas of the state in 48 hours to meet credit needs for exigencies like health, education and other income generation needs like agriculture, dairy and other activities.
- As credit availability is linked to grading of MS and VOs, community is keen to improve functioning of the same to access higher amount of credit limits from Stree Nidhi.
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