New Delhi : To promote women led enterprises among experienced members of Self Help Groups (SHGs), the Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM) and the Small Industries Development Bank of India (SIDBI) signed a MoU on Thursday. According to a statement by the rural development ministry, the partnership focuses on multiple aspects to boost women entrepreneurship.
The MoU, a plan for two years, was inked on Thursday by DAY-NRLM and SIDBI in the presence of Secretary Rural Development Shailesh Kumar Singh and Chairman and Managing Director SIDBI Sivasubramanian Ramann.
The primary focus of this collaboration is to demonstrate on-the-ground activities that establish a reliable and sensitive support structure for the capacity enhancement of women entrepreneurs (WEs).
Furthermore, it aims to institutionalize standard protocols, systems, and procedures for streamlined access to formal finance, as well as the development of a comprehensive framework for new financial products and schemes.
Additional Secretary Rural Livelihoods Charanjit Singh signed the document on behalf of DAY-NRLM while SIDBI was represented by their Chief General Manager Dr S. S. Acharya, said a press statement.
Key outcomes expected from this collaboration are : Enhanced capacity and ability of State Rural Livelihood Missions (SRLM) teams to promote the graduation of seasoned SHG members into micro-entrepreneurs
The establishment of a reliable and sensitive support architecture for women-led enterprises, involving a network of field cadres, mentors, and experts
The implementation of standardized protocols within DAY-NRLM to support women-led enterprises
The formation of partnerships with financial institutions and a network of financiers
The design and implementation of new financial schemes, such as credit guarantees and interest subventions
The creation of clear, scalable models for promoting women-led enterprises that can be replicated nationwide
Background : DAY-NRLM is the flagship initiative of the rural development ministry to cover 7 crore rural poor households, across 600 districts, 6,000 blocks, 2.5 lakh gram panchayats and 6 lakh villages in the country through SHGs and federated institutions and support them for livelihoods collectives in a period of 8-10 years. The scheme enables one member (preferably a woman) from each rural poor household to be brought under the SHG network.
As of July this year, 19.43 per cent of MSMEs registered on the government’s Udyam portal were owned by women, according to data shared by Bhanu Pratap Singh Verma, Minister of State in the MSME Ministry in the Parliament. Moreover, under the government’s Stand-Up India scheme, which enables credit for women and SC-ST entrepreneurs, 2.07 lakh loans amounting to Rs 46,737 crore were sanctioned so far since its launch in April 2016.
