Target of extending Rs 1,000 crore loan to 10 lakh women through one lakh SHGs as plan to create a model in microfinance for economically week

New Delhi

Gujarat Chief Minister Vijay Rupani said here today that it is for the first to time in the history of Gujarat that cooperative banks will get six per cent subsidy for advancing loans.

Addressing a meeting of cooperative banks to create awareness and implement Mukhya Mantri Mahila Utkarsh Yojna’, he asked the bankers to adopt proactive role to advance loans to Women’s Self Help Groups (SHGs) at zero per cent interest, help less privileged and increase women’s membership. The target is to extend Rs 1,000 crore loan to 10 lakh women in one lakh SHGs, to be preceded by formation and registration of such groups.

Chief Minister said that Gujarat has become synonymous with Prime Minister’s Aatmanirbhar Bharat call, for doubling farmers’ income and removing inequality. Rupani said the main mantra of the cooperative movement is helping the less privileged, less fortunate persons through micro finance, which has evolved as an ideal model to improve particularly the rural economy. The cooperative banks understand the pains and problems of the poor, small traders, daily wagers, eking out living. 

He said the cooperative banks have extended Rs 2,500 crore loan ranging from Rs 1.00 lakh to Rs 2.50 lakh to the needy during the lockdown due to novel Coronavirus. Several banks have achieved the target of Rs 100 crore loan given to them. He complimenting all those banks. Rural Development Commissioner Vijay Nehra made a presentation on Mukhya Mantri Mahila Utkarsh Yojna, explaining the role of Self Help Groups, Joint Liability Groups (JLG) and Joint Liability Earning and Saving Groups (JLESG).

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