Rs 3074.02 crore loans extended to over 5 lakh SHG women

Hyderabad: During 2014-15 financial year, Rs 703.05 crore loans were extended to 3.36 lakh Self Help Group (SHG) women under Streenidhi progamme. And, in 2021-22 financial year, Rs.3074.02 crore loans were extended to over 5 lakh SHG women under the programme.

During the last eight financial years, Rs.14,756 crore loans were extended to SHG women at nominal interest rates. This sums up Telangana Government’s commitment in ensuring financial empowerment of women in the State.

Utilizing these loans, many SHG women across the State have turned entrepreneurs by setting up provision stores, fancy stores, beauty parlours, carpentry, decoration and lighting, aquaculture, cattle farming and 65 other units. What more, they are now providing employment to many women.

Streenidhi Credit Cooperative Federation Limited is promoted by the State Government and the Mandal Samakhyas to facilitate credit flow from banking sector. It provides timely and affordable credit to the poor SHG members under the Society for Elimination of Rural Poverty’s measures to empower women financially.

Women have easy access to obtain credit from Streenidhi at their doorsteps. They can even obtain loans using their mobiles and do not have to depend on other sources for availing credit.

Based on their financial credits, each woman can avail a loan ranging from Rs.5,000 to Rs.3 lakh. They do not have to pledge any assets to avail loans and the best thing about Streenidhi credits, the interest rate is three percent less than banks.

At present, there are 56 lakh women have enrolled with 5.5 lakh SHGs under Streenidhi in the State. There are 22,300 Grama Samakhayas and 629 mandal samakhayas. Impressed with Telangana’s Streenidhi programme, Bihar Government is contemplating to replicate the programme in the State.

2022-23 Action plan

In the current financial year, Streenidhi has set a target to disburse Rs.3,700 crore. This would be Rs.626 crore higher compared to last financial year credit extension, said Panchayatraj and Rural Development Minister E Dayakar Rao in a statement here on Saturday.