Stree Nidhi unveils massive credit plan

Urging the bank officials to also distribute loans for purchase of smartphones, autorickshaws, trollies and bicycles, the Minister asked the SHGs to take part in village developmental programmes.

By Author  |  Published: 30th Mar 2017  8:41 pmUpdated: 30th Mar 2017  10:16 pm
Stree Nidhi
Minister for Panchayat Raj and Rural Development Juppaly Krishna Rao revealed a massive Rs 1,810 crore annual credit plan for the 2017-18 financial year for SHGs

Hyderabad: Stree Nidhi Credit Cooperative Federation, an apex society at the State level promoted jointly by the Federation of Self-Help Groups (SHGs) and State government, on Thursday revealed a massive Rs 1,810 crore annual credit plan for the 2017-18 financial year.
Speaking on the occasion, Minister for Panchayat Raj and Rural Development Juppaly Krishna Rao appreciated the efforts of the Stree Nidhi Bank and said it was not only successful in the disbursal of Rs 1,400 crore to 2.63 lakh SHGs but also created a record by registering repayments to the tune of 99 per cent of the loan amount.

Urging the bank officials to also distribute loans for purchase of smartphones, autorickshaws, trollies and bicycles, the Minister asked the SHGs to take part in village developmental programmes besides concentrating on financial aspects such as savings and loans.

Pointing out that 1.25 crore members were reaping the benefits from Stree Nidhi Bank in the State, he directed rural development officials to prepare a handbook which should include programmes and methods adopted by other States. He hailed the decision of the bank to give loans to set up dairy in villages and earmarked Rs 100 crore from their annual budget for this purpose.

In the new annual plan, the bank also decided to extend insurance facility to all its members.

Monthly turnover crosses Rs 100 crore
The monthly business turnover of Village Level Entrepreneurs (VLEs), who are functioning as Palle Samagra Seva Kendralu (One-stop shop), extending banking, Mee Seva and e-Panchayat services, has crossed Rs 100 crore in the month of March, 2017 for the first time.

Rs 3.48 crore dividend handed over to government
Stree Nidhi Credit Cooperation Federation handed over Rs 3.58 crore cheque to the Minister towards dividend for the government.