Revolving fund for women SHGs now Rs 1 lakh: Maharashtra CMhttps://indianexpress.com/article/cities/mumbai/revolving-fund-for-women-shgs-now-rs-1-lakh-maharashtra-cm-5587602/

Revolving fund for women SHGs now Rs 1 lakh: Maharashtra CM

Earlier, the maximum amount granted through loans to the SHGs was Rs 60,000. Revolving funds are continually replenished as and when withdrawals are made.

Maharashtra CM Devendra Fadnavis with Prime Minister Narendra Modi as the latter hands over a key to the beneficiary of Pradhan Mantri Awas Yojana at Yavatmal rally. (Photo: PTI)

In the wake of greater participation of women in self-help groups (SHGs) in rural and urban Maharashtra, Chief Minister Devendra Fadnavis on Saturday said that the revolving fund provided to them, which was Rs 60,000 so far, has been increased to Rs 1 lakh.

Addressing a rally at Yavatmal, Fadnavis said: “We are providing zero per cent interest loans to women SHGs. I am happy that these groups have 100 per cent success in loan repayment. I am glad to announce that the revolving fund provided to them has been increased to Rs 1,00,000.”

Earlier, the maximum amount granted through loans to the SHGs was Rs 60,000. Revolving funds are continually replenished as and when withdrawals are made.

Fadnavis said that under the Maharashtra State Rural Livelihoods Mission-UMED Abhiyan, the state government SHGs, which were earlier only limited to 36 talukas, have now spread to 254 talukas.

Advertising

In district Yavatmal alone, once known for farmer suicides, 17,000 SHGs across 1,329 villages in 16 talukas of the district provide livelihood to 74,000 families. “In entire Maharashtra, SHGs have prospered in 34,000 villages. Earlier, it was 30,000 SHGs and now it has increased to 2.65 lakh. Earlier, the beneficiaries were 3 lakh families and now it is 35 lakh,” said the CM.

“If we ensure women are economically independent, it would not only empower them socially, but also go a long way in uplifting the entire family,” Fadnavis added.

Referring to the projects launched in Dhule by Prime Minister Narendra Modi on Saturday, Fadnavis said: “The foundation stone was laid for the Manmad-Dhule-Indore railway line, for which people have been waiting for around 60 years. Dhule is a unique district, connected to seven national highways, and has a huge potential to become a logistics hub.”