Prime Minister Narendra Modi will start the Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited on Tuesday at 12:30 pm through a video call. On that occasion, he will also send ₹105 crore to the institution's bank account to officially start the institution.
The cooperative society was set up to help women connected to Jeevika get money easily at low interest rates. All officially registered cluster-level federations under Jeevika will become part of the Society. Both the Bihar government and the central government will help provide the money for it.
Over the years, women connected to Jeevika's self-help groups have become entrepreneurs, starting small businesses and setting up producer companies in rural Bihar. Many people have depended on microfinance institutions that charge very high interest rates, usually between 18pc and 24pc.
The new Jeevika Nidhi is designed to provide a different financial system, allowing people to get bigger loans with smaller interest rates and less reliance on microfinance institutions.
The entire system will function through a digital platform to enable faster and transparent transactions. To support this, 12,000 community cadres are being equipped with tablets to assist Jeevika Didis in accessing financial services. The initiative is expected to strengthen rural women’s entrepreneurship, boost community-led enterprises, and further promote financial inclusion.
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