Patna/Desk: Nitish government has started a revolutionary initiative for ‘Jeevika Didis’, who are considered the backbone of Bihar’s rural economy. Now women associated with Self Help Groups (SHG) will not have to make rounds of private micro finance companies or moneylenders to start or expand their small business. Under the new system, these women will be provided loans through ‘Bihar Rural Livelihoods Promotion Society’ (Jeevika) within just a week. Efforts to implement this ambitious scheme at the district level have intensified, which will provide a new direction to economic self-reliance to lakhs of women of the state.

Will get relief from the ‘recovery cyclone’ of private companies

In the last few years, many such complaints had come from rural areas, where micro finance companies were mentally and socially harassing women in the name of loan recovery. Many families were getting ruined by getting trapped in the trap of high interest rates and strict rules of these private companies. The main objective of this new initiative of the government is to protect women from such unsafe and pressurized lenders. Now a safe, transparent and very easy loan system is being provided to Jeevika Didis, through which they will be able to convert their skills into self-employment without any fear.

‘Jeevik Nidhi Credit Cooperative Union’ will provide financial help

To run this entire system smoothly, ‘Bihar State Livelihood Fund Credit Cooperative Union’ has been formed. According to the department’s data, this step is expected to directly benefit more than 3 lakh women of Bihar. At present more than 26 thousand livelihood groups are actively working in the state. Women belonging to these groups are engaged in tailoring, embroidery, incense stick manufacturing, animal husbandry and other small home industries. This capital received through the cooperative union will act as a ‘sanjeevani’ for their businesses.

The process will be completely digital, application will be done through mobile app.

Taking forward the vision of Digital India, the entire process of taking loan has been made paperless and transparent. District Project Manager Rakesh Kumar said that the entire process from applying for the loan to approval and reaching the amount in the bank account will be online. A special mobile app is also being prepared for this. Women will be able to apply for loans sitting at home, which will be monitored by district and block level officials. This will not only save time, but the role of middlemen will also be completely eliminated.

Loan from ₹15 thousand to ₹2 lakh: Know the terms and duration

Keeping in mind the different business needs of women, the loans are divided into three major categories:

Short Term Loan: Women who want to start work on a very small scale will get an amount of up to ₹15,000. 12 months time will be given to repay it.

Micro Loan: Loans ranging from ₹15,000 to ₹75,000 will be available in this category. A period of 24 months (2 years) has been fixed for its withdrawal.

Micro Loan: For large self-employment, women will be able to take loans ranging from ₹ 75,000 to ₹ 2,00,000. They will get enough time of 36 months i.e. 3 years to repay this amount.

Rural economy will get new strength

Experts believe that this step will prove to be a game changer for the rural economy of Bihar. When capital reaches women without any pressure, not only will their family income increase, but new employment opportunities will also be created at the village level. This scheme can prove to be a big milestone in the direction of women empowerment, which will make them truly self-reliant.