: PM Modi releases capitalization support funds to tune of Rs 1625 cr to over 4 lakh SHGs #FinanceIndia #StockMarketNEWS PM Modi releases capitalization support funds to tune of Rs 1625 cr to over 4

@StockMarketNEWS Thu 12 Aug, 2021

Posted in: #FinanceIndia #StockMarketNEWS

PM Modi releases capitalization support funds to tune of Rs 1625 cr to over 4 lakh SHGs #FinanceIndia #StockMarketNEWS
PM Modi releases capitalization support funds to tune of Rs 1625 cr to over 4 lakh SHGs New Delhi, Aug 12 (KNN) The Prime Minister Narendra Modi on Thursday released capitalization support funds to the tune of Rs 1625 crore to over 4 lakh Self Help Group (SHGs).

Participating in ‘Atmanirbhar Narishakti se Samvad’ and interacted with women Self Help Group (SHG) members/community resource persons promoted under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) today via video conferencing.

Modi also released Rs 25 crore as seed money for 7,500 SHG members under the PM Formalisation of Micro Food Processing Enterprises (PMFME) scheme of the Ministry of Food Processing Industries and Rs 4. 13 crore as funds to 75 Farmer Producer Organisations (FPOs) being promoted under the mission.

Further, speaking on the occasion, the Prime Minister lauded the Self-Help Groups of women for their unprecedented services during the corona period. The Prime Minister also recognized their unparalleled contribution in making masks and sanitizers and providing food to the needy and spreading awareness.

The Prime Minister also recalled the time before this government when crores of the sisters did not have a bank account, they were miles away from the banking system.

That is why the government started the massive campaign to open Jan Dhan accounts. Today there are more than 42 crore Jan Dhan accounts of which close to 55 per cent of the accounts are of women. The bank accounts were opened to make it easy to take loans from banks, he added.

He said that the amount of help the government has provided for the sisters under the National Livelihood Mission is many times more than the previous government. An unsecured loan of about Rs 4 lakh crore has also been made available to self-help groups.

In the last 7 years self-help groups have also done a great job of repaying banks. There was a time when bank loans close to 9 per cent became NPA. Now it has come down to 2-3 per cent, he said.

As the country marks 75 years of independence, it is time to set new goals and move forward with new energy, he said.

The government is constantly creating that environment and conditions from which all of you sisters can connect our villages with prosperity and prosperity, he added.

The Prime Minister said there are endless possibilities for women self-help groups in the agriculture and agro-based industry. He said a special fund has been created so that Self-help groups can also create these agro-based facilities by taking help from this fund.

All the members can take advantage of these facilities, by fixing reasonable rates and can also rent out to others, he avowed.