Dimapur, Aug. 15 (EMN): As part of the Azadi Ka Amrit Mohatsav celebration to commemorate 75 years of India's Independence, 75 self help groups (SHGs) under Nagaland State Rural Livelihoods Mission (NSRLM) were awarded INR 1.31 crore loan from Nagaland Rural Bank (NRB).
A DIPR report informed that the cheque was handed over to NSRLM-SHGs by chief minister, Neiphiu Rio, during the Independence Day celebration at the Secretariat Plaza, Kohima.
The bank credit will support the SHGs and their households in taking up income-generating activities covering farm livelihood, non-farm livelihood, and non-timber forest produce micro-enterprises. This will foster the national goal of creating ‘Lakhpati SHG Women’ to enable SHG women to earn at least INR 1 lakh per annum, the report stated.
The credit linkage will continue to become an annual event thereby enhancing the State Rural Livelihoods Mission's effort toward building the credit worthiness of rural women in Nagaland.
The State, NSRLM, banks and financial institutions have the collective goal to enabling access to financial services at the doorstep and providing alternative banking solutions.
It stated that the state mission has so far created an SHG corpus of more than INR 160 crore, which remains as a collective fund at the community level. The mission has also accessed INR 28.41 crore through bank credit to date, it added.