Over ₹9.71 Lakh Crore Bank Credit Released to SHGs Under DAY-NRLM
23 December 2024, New Delhi: The Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) continues to transform the rural landscape by mobilizing women into Self-Help Groups (SHGs) and empowering them through financial inclusion, entrepreneurship, and capacity building. As of November 2024, a staggering ₹9.71 lakh crore in bank credit has been leveraged by SHGs across the country, reflecting the program’s vast impact on women’s economic empowerment.
Cumulatively, 10.05 crore women have been organized into 90.87 lakh SHGs under DAY-NRLM. These groups serve as critical platforms for promoting business ventures, enhancing access to technology, and expanding market opportunities. The Start-up Village Entrepreneurship Programme (SVEP), a sub-scheme under DAY-NRLM, has further supported 3.13 lakh rural enterprises as of October 2024.
To enhance access to banking services, 1,35,127 SHG women have been deployed as Banking Correspondent Sakhis, facilitating deposits, credit, remittances, pensions, and insurance for rural communities. Moreover, the program provides a Revolving Fund of ₹20,000–₹30,000 per SHG and a Community Investment Fund of up to ₹2.5 lakh per SHG, with total capitalization support amounting to ₹48,290 crore.
The Ministry of Rural Development has also taken strides to ensure market accessibility through the launch of an online platform, eSaras (www.esaras.in), where SHG products can be marketed nationwide.
DAY-NRLM offers interest subvention on bank loans for women SHGs, significantly reducing borrowing costs and promoting credit access. Additionally, the program emphasizes capacity building through regular training and workshops conducted in collaboration with eminent resource organizations, academicians, and government departments.
To support small and marginal women producers, the mission facilitates the formation of producer groups and enterprises. So far, 1,245 women-owned producer enterprises or farmer producer companies have been established, benefiting around 15 lakh women members. Furthermore, 1.78 lakh producer groups covering 32 lakh women members have been promoted.
The Minister of State for Rural Development, Dr. Chandra Sekhar Pemmasani, highlighted the program’s success in a written reply to the Rajya Sabha, showcasing the wide reach of the SVEP. States like Uttar Pradesh, Madhya Pradesh, and Kerala lead the initiative, supporting thousands of enterprises.
This comprehensive initiative underscores the government’s commitment to fostering women’s economic independence and enabling their active participation in the nation’s growth story. With its multifaceted approach, DAY-NRLM is setting the stage for a more inclusive and prosperous rural economy.
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