IN A major initiative, the Maharashtra Government has decided to double the revolving funds available to women’s Self Help Groups under the Maharashtra State Rural Livelihood Mission, or Umed Mission, Chief Minister Eknath Shinde said here on Friday. The free amount is being doubled from the existing Rs 15,000 to Rs 30,000 and would benefit over six million women in the rural areas under the Umed Mission, with an additional expenditure of Rs 913 crore to the State Government, he said.

 

There are around 6,00,000 women’s SHGs in the State with more than 60 lakh women involved in them, plus 30,854 village groups and 1,788 ward units under the Umed Mission, which was launched in 2011. Usually, three months after they are formed, the SHGs receive a revolving fund for their internal loan transaction and related work and so far, 391,476 such SHGs have received a total amount of Rs 584 crore.

 

Another 80,348 groups have been given community investment funds to the tune of Rs 577 crore, and till date, 4.75 lakh SHGs have been disbursed loans worth Rs 19,771 crore, said the CM. In the last fiscal (2022-2023), 238,368 SHGs were given bank loans worth Rs 5,860 crore, 96 per cent of which were repaid on time, with a NPA ratio of barely 4.31 per cent and hence banks readily come forward to lend to such SHGs.