A women’s cooperative fund for self-help groups (SHGs) is being established in Rajasthan for extending timely loan facilities for their enterprises. The fund, titled Mahila Nidhi, will be inaugurated on Women’s Equality Day on August 26 with the membership given to all cluster-level federations functioning in the villages.
Chief Minister Ashok Gehlot will inaugurate ‘Mahila Nidhi’ at a State-level function in Jaipur, which is likely to be attended by about 10,000 women beneficiaries of SHGs. It has been reported that the fund will be set up on the pattern of Telangana’s Stree Nidhi Credit Cooperative Federation.
Principal Rural Development & Panchayati Raj Secretary Aparna Arora said on Tuesday, “A five-day-long series of programmes would be organised to mark Women’s Equality Day with emphasis on women’s empowerment through special schemes and value addition and marketing linkages for SHGs.”
Moreover, Mahila Nidhi is going to be operated entirely by women and will act as a complementary body to the formal banking system. It is also expected to bring down the number of loan applications pending in the banks.
Earlier this year, Mr Gehlot had announced the establishment of a financial institution run entirely by women in his 2022-23 Budget speech in the Assembly. With Mahila Nidhi getting a grant of ₹50 crores from the State government during the first two years of its operations, women will get loans to start new ventures and meet the financial needs of SHGs.
- Staff Reporter