New Delhi, September 1(HS):
Prime Minister Narendra Modi will inaugurate the Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited on September 2 at 12:30 PM via video conferencing, marking a transformative step towards empowering rural women entrepreneurs in Bihar. Alongside the launch, the Prime Minister will transfer Rs. 105 crore into the institution’s bank account, signaling robust financial backing for this pioneering initiative.
The Jeevika Nidhi aims to revolutionize access to affordable finance for community members linked with Jeevika’s self-help groups by offering loans at significantly lower interest rates compared to the prevailing 18%-24% charged by microfinance institutions. This collaborative institution, supported by both the Bihar state government and the Central government, will operate entirely on a cutting-edge digital platform, ensuring seamless, direct, and transparent fund transfers to the bank accounts of Jeevika Didis.
With over 12,000 community cadres being equipped with tablets to facilitate operations, the initiative pledges swift and hassle-free financial services that will accelerate the growth of rural women-led enterprises. This digital financial ecosystem is anticipated to benefit approximately 20 lakh women across Bihar, fostering entrepreneurship and strengthening the backbone of local economies through community-led ventures.
By mitigating dependence on costly intermediaries, the Bihar Rajya Jeevika Nidhi stands to be a game-changer in rural finance, empowering women entrepreneurs with timely support and fostering inclusive economic growth in the state.
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Hindusthan Samachar / Jun Sarkar
