The Program had a catalytic effect in sourcing collateral free loans to the tune of Rs 61,000 crore to the poor women from the mainstream banking system at the normal rates of interest.
Self Help Group Bank Linkage Programme (SHG BLP), the pioneering initiative of Financial Inclusion by NABARD completed 25 years during this year and is well poised to deliver the savings and credit services at the doorstep of rural poor especially women through their self-managed institutions called SHGs. Commemorating this occasion, NABARD has dedicated its 36th Foundation Day to celebrate the Silver Jubilee of SHG Bank Linkage Programme. Since its pilot stage in 1992, the SHG Programme has come a long way in covering more than 10 crore rural families. As on 31st March, 2017 these groups had savings of more than Rs 16,000 crore in banks and double of that amount in their internal lending. The Program had a catalytic effect in sourcing collateral free loans to the tune of Rs 61,000 crore to these poor women from the mainstream banking system at the normal rates of interest. With more than 8.5 crore rural women as the direct participants in this mass movement, NABARD will be celebrating the Silver Jubilee of SHG BLP at Vigyan Bhavan in national capital tomorrow i.e. 11th July, 2017.
The Union Finance Minister Shri Arun Jaitley has kindly consented to be the Chief Guest and the programme would be attended by Senior Officials of Central and State Governments, RBI etc. Besides, the programme is being attended by the Channel partners especially Banks, NGOs etc., who collaborated with NABARD in making SHG Bank Linkage Programme as the World’s largest.
On this occasion, NABARD is felicitating the Policy makers, Thought Leaders, Self Help Promoting Institutions, Banks and above all few leaders among women who owned this concept and made lives of their hapless sisters’ smoother by creating avenues for sustainable livelihoods.