A first-of-its-kind women’s cooperative fund for self-help groups (SHGs) is being established in Rajasthan for extending timely loan facility 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 here, which is likely to be attended by about 10,000 women beneficiaries of SHGs. 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 here on Tuesday that 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.
Mahila Nidhi, to be operated entirely by women, will act as a complementary body with the formal banking system. It is also expected to bring down the number of loan applications pending in the banks. The Rajasthan Grameen Ajeevika Vikas Parishad had signed a memorandum of understanding with Stree Nidhi for setting up the institution last month.
Mr. Gehlot had announced establishment of a financial institution run entirely by women in his 2022-23 Budget speech in the Assembly earlier this year. With Mahila Nidhi getting a grant of ₹50 crore 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.
Ms. Arora said about 1,200 members of SHGs as well as the beneficiaries of various schemes would participate in a discussion on women’s empowerment at Jaipur Exhibition & Convention Centre to mark Women’s Equality Day.
