Is PM Modi Leaving No Stone Unturned for Bihar's Jeevika Nidhi Sangh?
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Synopsis
Prime Minister Modi is set to inaugurate a groundbreaking initiative aimed at empowering women in Bihar through the Jeevika Nidhi Sangh. With significant financial backing and a digital platform, this initiative promises to transform rural entrepreneurship and enhance financial inclusion for countless women.
Key Takeaways
- The Jeevika Nidhi Sangh aims to empower rural women through accessible financial services.
- Prime Minister Modi's initiative includes a financial allocation of Rs 105 crore.
- Women entrepreneurs will benefit from lower-interest loans, reducing reliance on expensive credit.
- 12,000 community cadres will assist women in navigating digital financial services.
- Approximately 20 lakh women are expected to engage with this initiative.
New Delhi, Sep 2 (NationPress) Prime Minister Narendra Modi emphasized on Tuesday that the government is devoted to creating abundant opportunities for women in Bihar.
This announcement precedes his inauguration of the Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited, which will take place later today via video conferencing.
On this occasion, PM Modi shared on X, "We are leaving no stone unturned to ensure that the mothers, sisters, and daughters of our Bihar do not lack any opportunities. Today at around 12:30 p.m., I will launch a significant initiative for rural women entrepreneurs through video conferencing."
As part of the official launch, he will also deposit Rs 105 crore directly into the institution's bank account, providing the new cooperative with a solid financial base.
This cooperative aims to deliver affordable and accessible financial services to women involved with Jeevika, Bihar's premier rural livelihoods program.
All registered Cluster-Level Federations under Jeevika will become members of this new entity. The initiative is a collaboration between the Government of Bihar and the Central Government.
Over the years, numerous women linked with Jeevika's self-help groups have transformed into rural entrepreneurs, starting small businesses and production units throughout the state.
Nonetheless, many have remained dependent on microfinance institutions (MFIs) that impose high-interest rates ranging from 18% to 24%.
The Jeevika Nidhi is designed to tackle this challenge by offering larger loans at significantly lower interest rates, thereby decreasing reliance on expensive credit sources.
The entire platform will function digitally, ensuring quick and transparent transactions. To support this, around 12,000 community cadres will be equipped with tablets, enabling them to assist Jeevika women, or "Didis", in accessing and navigating financial services.
This initiative is anticipated to greatly enhance financial inclusion, empower rural women, and foster community-driven entrepreneurship.
Approximately 20 lakh women across Bihar are expected to tune in to the live inauguration, highlighting the extensive grassroots impact of this initiative.
The Jeevika Nidhi Federation is viewed as a pivotal step towards nurturing a more inclusive and self-sufficient rural economy in Bihar, rooted in women's empowerment and cooperative strength.
Point of View
It's crucial to acknowledge that the initiative spearheaded by Prime Minister Modi represents not just a financial backing for women in Bihar, but a transformative step towards empowerment. The focus on self-reliance and cooperative strength aligns with national objectives of enhancing rural livelihoods, making this a commendable effort that deserves support and scrutiny.
NationPress
02/09/2025
Frequently Asked Questions
What is the Jeevika Nidhi Sangh?
The Jeevika Nidhi Sangh is a newly inaugurated cooperative aimed at providing affordable financial services to women involved in Bihar's rural livelihoods program, Jeevika.
How much funding is being allocated to the Jeevika Nidhi?
Prime Minister Modi announced a transfer of Rs 105 crore to establish a strong financial foundation for the cooperative.
Who will benefit from the Jeevika Nidhi?
Approximately 20 lakh women associated with Jeevika's self-help groups are expected to benefit from the services provided by the Jeevika Nidhi.
What are the interest rates for loans under the Jeevika Nidhi?
The Jeevika Nidhi aims to offer larger loans at significantly lower interest rates compared to the high rates charged by microfinance institutions.
How will the Jeevika Nidhi operate?
The cooperative will operate digitally, ensuring fast and transparent transactions with support from around 12,000 community cadres equipped with tablets.
