Rs 3074.02 crore loans granted to over 5 lakh SHG women

Published: updated on – 00:01, Sun – 10 Jul 22

The Stree Nidhi Credit Cooperative Federation Limited is promoted by the state government and the Mandal Samakhyas to facilitate the flow of credit from the banking sector.

Hyderabad: In the financial year 2014-2015, loans of Rs 703.05 crore were extended to 3.36 lakh women self-help group (SHG) under the Stree nidhi scheme. And, in the financial year 2021-22, loans of Rs.3074.02 crore were extended to over 5 lakh SHG women under the scheme.

Over the past eight years, loans of Rs 14,756 million have been made available to SHG women at nominal interest rates. This sums up the Telangana government’s commitment to ensuring the financial empowerment of women in the state.

Thanks to these loans, many SHG women across the state have become entrepreneurs by establishing grocery stores, fancy stores, beauty salons, carpentry, decorating and lighting, aquaculture, cattle breeding and 65 other units. What’s more, they now provide employment for many women.

Streenidhi Credit Cooperative Federation Limited is promoted by the state government and the Mandal Samakhyas to facilitate the flow of credit from the banking sector. It provides affordable and timely credit to poor members of self-help groups as part of the Society for the Eradication of Rural Poverty’s measures to empower women financially.

Women have easy access to get credit from Streenidhi at their doorstep. They can even get loans using their cell phones and don’t have to depend on other sources for credit.

Based on their financial credits, each woman can avail a loan ranging from Rs.5,000 to Rs.3 lakh. They don’t have to pledge any assets to avail the loans and the best thing about Streenidhi loans, the interest rate is three percent lower than that of banks.

At present, 56 lakh women have registered with 5.5 lakh SHG under Streenidhi in the state. There are 22,300 Grama Samakhayas and 629 Mandal Samakhayas. Impressed with Telangana’s Streenidhi program, the Bihar government plans to replicate the program in the state.

Action Plan 2022-23

In the current financial year, Streenidhi has set a target of disbursing Rs 3,700 crore. This would be Rs 626 crore higher than the previous year’s credit extension, Panchayatraj and Rural Development Minister E Dayakar Rao said in a statement on Saturday.

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