Rs 94.72 cr loan facility provided to 19405 SHGs in J&K

          SRINAGAR, AUGUST 24:  State Rural Livelihood Mission (SRLM) and UMEED today organized a workshop on ‘SHG-Bank Linkage’ at Sher-e-Kashmir International Convention centre (SKICC) here.

         Commissioner Secretary Rural Development, Nirmal Sharma inaugurated the workshop while Mission Director SRLM Bakshi Javaid Humayun, Vice Presidents of JK Bank, Additional Mission Director Jammu Kapil Sharma and Additional Mission Director Kashmir Ishfaq Ahmad were also present on the occasion.

          Commissioner Secretary Rural Development while speaking on the occasion presented an overview of activities, approach and achievements of UMEED-MSRLM, particularly in the area of financial inclusion.

          She said the purpose of the workshop is to analyze the progress made on SHG linkage this year and also deliberate on various other issues. She said the workshop will help bankers and the SHG members to directly interact with each other and give feedback on the existing system of finance to the SHGs that will help banks and the department to improve.

          She said the mandate of SRLM is to reach out to 66 percent of rural population and link them to sustainable livelihood opportunity and nurture them till they come out of poverty and enjoy a decent quality of life.

          Speaking on the occasion Mission Director SRLM Bakshi Javaid Humayun said 19405 SHGs and 1922 Village Organizations have been formed so far and all of these groups have been linked with the banks.

          He said the banks have provided loans to the tune of Rs 94.72 crore to 12596 SHGs out of which JK Bank has provided 70 percent and J&K Grameen Bank has provided 19 percent. He said out of 180594 members of the SHGs, 105942 members have opened their individual accounts with different branches of the banks.

          The Mission Director further stated that the department has enabled women SHG members to access to Rs 197.10 crores over a period of 4 years which include revolving fund of Rs 15000 per SHGs, Community Investment Fund of Rs 40000 per SHG and Additional Community investment of Rs 25000 per SHG.

          Vice President JK Bank on the occasion said the SHGs have set an example in the country by having a negligible NPA record. He said the Bank will walk extra mile in eradicating the poverty in rural areas besides empowering the women by way of financial inclusion.

          The bank representatives assured to take the subject of ‘SHG Bank Linkage’ on a high priority. They said SHG credit linkage is a social concern as well as a promising business proposition for bankers and assured every possible help to the SHGs.