Microfinance News Digest

Jairam Ramesh proposes Bank for Women and Cheaper loans to SHG’s – News Digest

The government is planning to bring the interest rate on bank lending to self-help groups (SHGs) at par with the rate for crop loans to farmers, besides setting up a dedicated national bank for women SHGs.This was announced on Monday by the rural development minister Jairam Ramesh. FE

Jairam Ramesh Microfinance

Jairam Ramesh - Minister for Rural Development

SMILE Microfin to raise up to Rs 250 cr through term loans
SMILE Microfinance Ltd, a Tamil Nadu-based micro finance institution (MFI), plans to raise up to Rs 250 crore through term loans from banks and finance companies for its lending business in the current financial year. BS

Youth SHGs get seed money
The Repco Foundation, a sister concern of the Repco Bank, in association with Puthiya Thalaimurai Trust of the S R M group on Wednesday disbursed seed loans worth Rs 1.25 crore to 58 youth Self Help Groups as part of their micro finance programme. CNN-IBN

Nabard help for 4.32L self-help groups
RANCHI: The National Bank for Agriculture and Rural Development (Nabard) has plans to support 4.32 lakh self-help groups (SHGs) in Jharkhand and provide financial assistance of more than Rs 6,551 crore to farmers. TOI

3 Comments

3 Comments

  1. S.S.Sangra

    July 22, 2011 at 11:20 am

    Compliments to Rameshji for annoucing a most appropriate agency for the SHGs. This will go a long way in reaching adequate and timely credit to the SHGs. However the disbursement of loans to SHGs members was not for anything wanting from NABARD but it was the lack of orientation, awareness and a attitude amongst the Banks’branch staff.Even the follow up from the higher authorities of the banks has been lacking that the branches have been showing disinterest in financing to the SHG members. The second issue was the simultaneous implementation of the SGSY SHG programme which utterly lacked the orientation, motivation and badly affected the SHG bank linkage progrmme. The situation might not change even after the formation of the new bank if the same bank branches have to extend the financial assistance until and unless all the banks fully gear up their machinery,own this programme, nurture and supervise the SHGs after they have been linked to them and show sympathatic attitude to the SHGs members. Other wise the situation will not change. Thirdly all the banks’ branches including that of Commercial Banks, RRBs, Cooperative banks, rather the whole whole cooperative structure should participate and cooperate with the new proposed organisttion by the Minister of Rural Development. I would place all my appreciation and wish the Minister all the best in actualising the proposal.

  2. S.S.Sangra

    July 22, 2011 at 1:04 pm

    Compliments to Shri Jairam Rameshji, Minister for Rural Development for annoucing a most appropriate agency for the SHGs. This will go a long way in reaching adequate and timely credit to the SHGs. However the disbursement of loans to SHGs members was not for anything wanting from NABARD but it was the lack of orientation, awareness and a attitude amongst the Banks’branch staff.Even the follow up from the higher authorities of the banks has been lacking that the branches have been showing disinterest in financing to the SHG members. The second issue was the simultaneous implementation of the SGSY SHG programme which utterly lacked the orientation, motivation and badly affected the SHG bank linkage progrmme. The situation might not change even after the formation of the new bank if the same bank branches have to extend the financial assistance until and unless all the banks fully gear up their machinery,own this programme, nurture and supervise the SHGs after they have been linked to them and show sympathatic attitude to the SHGs members. Other wise the situation will not change. Thirdly all the banks’ branches including that of Commercial Banks, RRBs, Cooperative banks, rather the whole whole cooperative structure should participate and cooperate with the new proposed organisation by the Honorable Minister of Rural Development. I would place all my appreciation and wish the Honorable Minister all the best in actualising the proposal.

  3. Dr.Mrs Sushma Joiya

    July 24, 2011 at 11:37 am

    Complements to Honble Shri Jairam Ramesh the Minister for Rural Development, Government of India.
    It is suggested that the NGOs engaged with uplifting the socioeconomic status of female society through SHGs must be encouraged to engage the ladies in industrial ativities then only their projects should be financed so that each member of the get at least Rs 2000/- per month through such socio-economic activities.
    DR Mrs Sushma Joiya
    Chairperson
    Integrated Congress of Women Entrepreneurs.

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top