While chairing a meeting with chairpersons of Regional Rural Banks and Managing Directors of State Cooperative Banks on SHG Bank Linkage & Financial Inclusion, Union Ministry of Rural Development Additional Secretary Charanjit Singh said that the role of RRBs and Co-operative Banks should be to change rural society by empowering women.
He said that Branch Managers should visit villages and stay there for one night to assess the ground reality. The meeting was held last week.
In the meeting, Nabard Chairman K V Shaji said that SHG women members could be transformed into Lakhpati Didis by financing micro enterprises owned by them.
The discussions were focused on financing individual women SHG members by RRBs and co-operative banks.
On this occasion, the presentation on the progress of SHG Bank Linkages made by the Regional Rural Bank and Co-operative banks across various parameters was discussed.
Women from the rural areas have shown that they are creditworthy and they can utilise the bank’s credit for growth and can make regular loan repayment too.
The NPA of the Regional Rural Banks have been reduced to just 1.43% which is the lowest in the banking industry. About 10 crore Women from rural households have been enrolled under 96 lakhs Self Help Groups and Rs. 8.03 lakh crores of credit has been availed by these women SHGs from the Banks since inception of the scheme.
The meeting was attended by senior officials of State Bank of India, Punjab National Bank, NABARD, Senior officials from Department of Financial Services, Ministry of Finance, Govt. of India, State Rural Livelihoods Missions and Ministry of Rural Development officials and experts.
