July 31, 2019
Bangla has given highest amount in loans to SHGs: Central report
The latest NABARD report has painted a bright picture about self-help groups (SHG) in Bangla. The Central Government-run agricultural bank has reported that the State’s performance in credit linkage of SHGs in the cooperative sector in financial year (FY) 2018-19 has been the best in the country.
As per the report, Bangla provided long-term loans to 97,535 SHGs, which is the highest, leading to huge employment and income generation, mostly among women.
Chief Minister Mamata Banerjee had recently announced a yearly aid of Rs 5,000 per SHG for their empowerment. SHGs registered for a period of one year or more will be entitled to the benefit. The government will spend Rs 500 crore for this purpose, said an official of the State Cooperation Department.
Bank loans disbursed to SHGs has gone up noticeably under the Trinamool Congress Government. What was Rs 553 crore in FY 2010-11 went up to Rs 7,000 crore in 2018-19.
The State Government is also providing a subsidy so that SHGs have to pay only 2 per cent of their bank loans. The number of SHGs, which was 4.72 lakh in FY 2010-11, has also more than doubled.
Source: Millennium Post