New Delhi | Prime Minister Narendra Modi on Thursday released capitalization assistance of Rs 1,625 crore to over 4 lakh Self Help Groups (SHGs). Apart from this, he gave Rs 25 crore as seed money for 7,500 SHG members under PMFME (PM Formalization of Micro Food Processing Enterprises) scheme of the Ministry of Food Processing Industries and 75 FPOs (Farmer Producer Organizations) being promoted under the mission. 4.13 crore released as fund.
Modi interacted with members of the Women Self Help Groups (SHGs) promoted under Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), community resource members through video conferencing.
A booklet on Universalization of Agricultural Livelihoods along with a collection of success stories of members of women SHGs located across the country was also released by the Prime Minister during the event.
Speaking on the occasion, the Prime Minister lauded women’s self-help groups for their unprecedented services during the Corona period. The Prime Minister highlighted their unique contribution in making masks and sanitizers, providing food to the needy and spreading awareness.
The Prime Minister said that today, on the eve of Raksha Bandhan, a huge financial assistance has been provided to over 4 lakh self-help groups to increase the scope of entrepreneurship among women and their greater participation in the resolve of self-reliant India.
He said that self-help groups and Deen Dayal Antyodaya Yojana have brought a new revolution in rural India.
Modi said that this movement of women self-help groups has intensified in the last 6-7 years.
The Prime Minister recalled the times before this government when crores of sisters did not have bank accounts and were far away from the banking system.
He said that for this reason, this government has started a massive campaign to open Jan Dhan accounts. He further said that today there are more than 42 crores Jan Dhan accounts, out of which about 55 percent of accounts are of women. He said that these bank accounts were opened to make it easier to take loans from banks.
The Prime Minister said that the amount of help this government has given to sisters under the National Livelihood Mission is many times more than the previous government.
Unsecured loans of about Rs 4 lakh crore have also been made available to SHGs. He said that in the last 7 years, SHGs have also done a good job in the repayment of loans to banks. There was a time when about 9 percent of bank loans became non-performing assets (NPAs). Now it has come down to 2-3 percent. He appreciated the honesty of the women associated with the Self Help Groups.
The Prime Minister also announced that now the limit for providing loans without guarantee to SHGs has been doubled to Rs 20 lakh. He said that the condition of linking your savings accounts with loan accounts has also been done away with. He said that with many such efforts, now you will be able to move forward with more enthusiasm in the campaign of self-reliance.
The Prime Minister said that there are endless possibilities for women’s self-help groups in agriculture and agro-based industries. Modi said that a special fund has been created. Self-help groups will also be able to build agro-based facilities by taking help from this fund. All the women of SHGs can avail these facilities by fixing reasonable rates and can also rent out to others.
