Will PM Modi Inaugurate Bihar’s Jeevika Nidhi Cooperative Federation Today?
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Synopsis
Prime Minister Modi's upcoming inauguration of the Bihar Jeevika Nidhi Cooperative Federation marks a significant milestone for women's empowerment and financial inclusion. With substantial government support, this initiative aims to provide affordable financial services to women entrepreneurs, transforming the rural economy in Bihar.
Key Takeaways
- Prime Minister Modi's inauguration marks a significant step toward financial inclusion.
- The cooperative aims to provide affordable loans for women entrepreneurs.
- Over 2 million women in Bihar are expected to benefit from this initiative.
- Jointly funded by the Government of Bihar and the Central Government.
- Digital operations will enhance transparency and efficiency.
New Delhi, Sep 2 (NationPress) Prime Minister Narendra Modi is set to inaugurate the Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited on Tuesday at 12:30 p.m. through video conferencing.
During the official launch, he will also transfer Rs 105 crore directly into the institution’s bank account, providing a solid financial base for this new cooperative.
The cooperative is established to deliver affordable and accessible financial services to women involved in Jeevika, which is Bihar’s premier rural livelihoods initiative.
All registered Cluster-Level Federations under Jeevika will join this new organization as members. This initiative is a collaborative effort funded by both the Government of Bihar and the Central Government.
Over the years, many women participating in Jeevika’s self-help groups have transformed into rural entrepreneurs, launching small businesses and production units statewide.
Nevertheless, numerous women have remained reliant on microfinance institutions (MFIs) that impose exorbitant interest rates between 18% and 24%.
The Jeevika Nidhi seeks to remedy this situation by offering larger loans at substantially lower interest rates, thus lessening dependence on expensive credit options.
The entire operation will run digitally, ensuring swift, transparent transactions. To facilitate this, about 12,000 community cadres are being equipped with tablets, enabling them to assist Jeevika women, or Didis, in accessing and utilizing financial services.
This initiative is projected to significantly enhance financial inclusion, empower rural women, and foster community-driven entrepreneurship.
Approximately 2 million women across Bihar are expected to tune in to the live inauguration, highlighting the substantial grassroots impact of the project.
The Jeevika Nidhi Federation is regarded as a pivotal step towards fostering a more inclusive and self-sufficient rural economy in Bihar, grounded in women’s empowerment and the strength of cooperation.
Point of View
I believe that the establishment of the Jeevika Nidhi Cooperative Federation is a commendable step towards enhancing financial accessibility for rural women in Bihar. This initiative not only promotes entrepreneurship but also strengthens community ties and fosters economic growth, ensuring that the voices of women are heard and valued in the economic landscape.
NationPress
02/09/2025
Frequently Asked Questions
What is the purpose of the Jeevika Nidhi Cooperative Federation?
The Jeevika Nidhi Cooperative Federation aims to provide affordable and accessible financial services to women involved in Bihar’s rural livelihoods program, helping them reduce reliance on high-interest microfinance institutions.
How much funding is being transferred to the cooperative?
Prime Minister Modi will transfer Rs 105 crore directly into the cooperative's bank account as part of its official launch.
Who will benefit from this initiative?
Approximately 2 million women associated with Jeevika across Bihar are expected to benefit from this initiative through access to financial services and support for entrepreneurship.
How is the cooperative funded?
The Jeevika Nidhi Cooperative Federation is funded jointly by the Government of Bihar and the Central Government.
What technology will be used to support the initiative?
The platform will operate digitally, and around 12,000 community cadres will be equipped with tablets to assist women in accessing financial services.
