The Ministry of Rural Development (MoRD), the Government of India, and the National Bank for Agriculture and Rural Development (NABARD) have united in a partnership that represents a significant step towards empowering women in rural areas. They recently signed a Memorandum of Understanding (MoU) aimed at boosting services to leverage NABARD's schemes for the benefit of women Self-Help Groups (SHGs) operating under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM).
The MoU signing ceremony witnessed the presence of key officials including Charanjit Singh, Additional Secretary of Rural Livelihoods, Ministry of Rural Development, and Dr. A K Sood, Deputy Managing Director of NABARD, along with VK Shaji, Chairman of NABARD, and other senior dignitaries from both organizations.
Boosting Livelihood Opportunities
Expressing his views on the collaboration, Additional Secretary Charanjit Singh emphasized its significance in advancing the livelihood prospects of SHG women. In his remarks, Additional Secretary Shri Charanjit Singh noted the significance of the MoU with NABARD in bolstering the Ministry's support initiatives under DAY-NRLM. He highlighted its role in empowering SHG women to transition into entrepreneurs and increase their incomes, aligning with the Prime Minister's vision of creating financially successful SHG members.
Echoing similar sentiments, V K Shaji, Chairman of NABARD, expressed his pleasure in partnering with MoRD towards supporting the economic growth of rural SHG women. He expressed his pleasure in partnering with MoRD towards supporting the economic growth of rural SHG women, highlighting NABARD's commitment to join hands with MoRD in their mission to support rural SHG women with the MoU, which aims to fulfill the aspirations of SHG Didis for their economic growth.
Empowering Women Entrepreneurs
The MoU holds the promise of enabling the graduation of women SHG members as entrepreneurs. It seeks to facilitate the establishment of a 'Not-for-Profit' Corporate Business Correspondent (BC) entity and deploy women SHG members as Business Correspondents (BC Sakhi) therein. Furthermore, it aims to provide necessary support to State Rural Livelihoods Mission to establish an ecosystem for better financial inclusion and scaling up enterprises run by women SHG members.
By harnessing the potential of SHG women and providing them with the necessary resources and support, this initiative is ready to create a positive ripple effect, ultimately contributing to the socio-economic development of the nation's rural landscape.
