Deendayal Antyodaya Yojana-National Rural Livelihood Mission under Ministry of Rural Development organised a National Conclave on Women led Entrepreneurship yesterday in New Delhi. Secretary, Rural Development Shri Shailesh Kumar Singh presented awards to the Banks. Additional Secretary, Rural Development Shri Charanjit Singh exchanged MoU with Banks. Joint Secretary, Ms. Smriti Sharan and other officers were also present in the conclave. The conclave was organised to give a push to women entrepreneurship by engaging Banks for extending loans for individual women entrepreneurs.
Twenty banks were facilitated for their outstanding performance in SHG Bank linkage for the financial year 2023-24. Online integration with Jansamarth portal for SHG was launched during the conclave. Financial Literacy initiative with the support of Reserve Bank of India under the Depositors’ Education and Awareness Fund was also commenced
Shri Shailesh Kumar Singh said that women show high degree of empathy, ownership, commitment, honesty, transparency and invest substantial time and energy to implement an intervention of their interest. Banks have a crucial role to play in advancement of women led enterprises.
Shri Charanjit Singh advised Banks to make their branch officials aware about the specific products designed by them, so that the rural women do not face difficulty in getting finance at the branch level.
Shri Charanjit Singh, Additional Secretary, Rural Development exchanging MoU with Banks.
Ms. Smriti Sharan said that there is a need to create and nurture an ecosystem which instils confidence among women to pursue entrepreneurship. She urged all stakeholders including Banks, Regulator and other partners present to create a platform for these women entrepreneurs to address the challenges faced by them.
The conclave witnessed a vibrant panel discussion on “Pathways from Financial Inclusion to Economic Prosperity- Vikshit Bharat@2047”. Esteemed panelists from Banks, IIM Kolkata, Fintech, State Rural Livelihoods Mission and IFMR (a research organisation) deliberated on ways to conceptualise a framework for creating an enabling ecosystem for nurturing women led enterprises in the rural areas. Active deliberations were made on demand side and supply side issues and the possible ways to bridge the gaps.
DAY NRLM has made substantial strides in the area of financial inclusion. The conclave emphasised on the need to make a shift from group lending to individual lending in order to meet the aspirations of women entrepreneurs and helping them upscale their enterprises. In order to realise the vision of Prime Minister on creation of 3 crore lakhpati didis, Bank financing has a significant role.
The conclave had participation from Reserve Bank of India, NABARD, Public Sector Banks, Private Banks, Regional Rural Banks, State Co-operative Banks, State Rural Livelihood Missions, various Ministries/Departments of Government of India and CSO partners.
