Have Banks Disbursed Over Rs 11 Lakh Crore in Loans to Women Self-Help Groups?
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Synopsis
Discover how over Rs 11 lakh crore in loans have empowered women self-help groups across India, as highlighted by Union Agriculture Minister Shivraj Singh Chouhan. This initiative reflects the government's commitment to inclusive development and financial independence for rural women.
Key Takeaways
- Over Rs 11 lakh crore in loans disbursed to women SHGs.
- Significant focus on financial empowerment of women.
- High repayment rate of over 98%.
- Role of 'Bank Sakhis' in facilitating loans.
- Government initiatives transforming women's economic status.
New Delhi, July 30 (NationPress) Loans totaling over Rs 11 lakh crore have been allocated to women self-help groups (SHGs) via formal financial institutions under the Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM), stated Union Agriculture Minister Shivraj Singh Chouhan on Wednesday.
This achievement underscores the central government’s unwavering commitment, led by Prime Minister Narendra Modi, to promote inclusive rural growth, empower women financially, and encourage self-sufficiency at the village level, he added.
Through the Ministry of Rural Development’s DAY-NRLM initiative, rural women across the nation are enhancing their livelihoods by forming strong community institutions. SHGs are enabling them to access collateral-free loans, interest subsidies, and various financial assistance, empowering them to launch their own enterprises and boost their earnings.
A repayment rate exceeding 98% highlights the initiative's reliability, discipline, and effective management, noted Chouhan.
Commending the banking sector's contributions, Chouhan remarked that financial partners have played a vital role in actualizing the aspirations of countless rural women. The dedicated efforts of 'Bank Sakhis' have facilitated the SHG-bank connection and ensured prompt loan repayments.
He further emphasized that the key aspect of this banking collaboration is the provision of accessible loans to SHGs under priority sector lending, along with convenient banking services for SHG members through simplified procedures. This initiative also encourages Aadhaar and mobile integration of bank accounts, while boosting financial literacy.
The repayment systems are being enhanced nationwide. 'Bank Sakhis' are increasingly assisting with transactions, loan applications, documentation, and raising awareness about insurance, pensions, and other financial schemes.
Additionally, the Community Based Repayment Mechanism (CBRM) is being strengthened to guarantee timely loan recovery under this pivotal program.
Government initiatives like DAY-NRLM and 'Lakhpati Didi' are radically transforming the financial status of millions of women in rural India, he mentioned.
Point of View
The government's initiatives like DAY-NRLM reflect a robust strategy for enhancing the economic status of women in rural areas. This move not only empowers women but also promotes inclusive growth, making it a significant step for national development.
NationPress
31/07/2025
Frequently Asked Questions
What is the total amount of loans disbursed to SHGs?
Over Rs 11 lakh crore in loans have been disbursed to women self-help groups under the DAY-NRLM.
What is the repayment rate of these loans?
The repayment rate is over 98%, showcasing the initiative's credibility and effective management.
Who is responsible for facilitating the SHG-bank linkage?
'Bank Sakhis' play a crucial role in connecting SHGs with banks and ensuring timely loan repayments.
What financial support do SHGs receive?
SHGs are provided with collateral-free loans, interest subsidies, and other financial assistance.
How does the government promote financial literacy among SHG members?
The initiative includes awareness programs on insurance, pensions, and financial schemes to improve financial literacy.
