MoU with Telangana for Rajasthan's first Women’s Fund Financial Institution
On 25 July, 2022, MoU was signed between Rajasthan Rural Livelihood Development Council and Streenidhi Telangana in the presence of Rural Development and Panchayati Raj Minister Ramesh Chand Meena to establish the state's first and country's third 'Women's Fund Financial Institution' in Rajasthan.
The MoU was signed at the Indira Gandhi Institute of Panchayati Raj by State Mission Director Manju
Rajpal on behalf of Rajivika and G. Vidyasagar Reddy, MD, Streenidhi on behalf of Telangana.
Rajasthan Mahila Nidhi' is beingestablished in the state through Rajivika as a state level cooperative financial institution on the lines of the successfully operated women fund model in the state of Telangana. Cluster level federation of Rajivika will be its member.
For the establishment of Rajasthan Mahila Nidhi, a total grant of Rs 50ncrore (Rs 25 crore in the first year)
will be given by the state government in two years and
proposals for a grant of Rs 110 crore from the Government of India have been sent to the central government.
For the operation of this fund, Rajivika is contributing Rs 10 lakh per cluster level union share capital
from 561 promoted cluster level federations in a phased manner. Through the Women's Fund, loans
up to Rs.40,000/- can be disbursedin 48 hours and above within a time frame of 15 days.
On this occasion, Rural Development Minister Ramesh
Chand Meena said that after the establishment of Women’s Fund, the economic empowerment of
women of Self Help Groups of Rajivika would get a boost and they would be able to get loans for their
enterprise. The number of loan applications pending in banks will also come down.
Rajasthan Mahila Nidhi will act as a complementary financial institution with formal banks. This fund will be operated by the women of SHG for the women of
SHG only. It is noteworthy that in the budget of the year 2022-23 by Chief Minister Ashok Gehlot, an announcement was made regarding setting up of a bank run by women.