Sa-Dhan jointly with NABARD, NRLM, CIBIL Conduct a Workshop on ‘Financing Women-Led Enterprises by Regional Rural Banks’ in Lucknow today
Lucknow, December 07, 2024: Aiming to foster financial inclusion and empowering women-led enterprises in India, Sa-dhan, an RBI appointed Self – Regulatory Organisation (SRO) and an association of Microfinance and Impact Finance Institutions, in association with NABARD promoted Bankers Institute of Rural Development (BIRD), National Rural Livelihood Mission (NRLM) and Credit Information Bureau (India) Limited (CIBIL), organized a half-day workshop for the Chairpersons of all Regional Rural Banks (RRBs) from all across India in Lucknow today.
The theme of the event was ‘Developing a Financing Product for RRBs for Women Enterprises of SHG – Women Under Lakhpati Didi Programme’ and held at the BIRD’s Office. Some key topics covered were ‘Understanding Enterprise Financing Programme’, ‘Swayam Siddha and Swayam Siddha Prabal’ and discussion about the ‘Bankers’ role and expectations’ by participation from various eminent speakers. s
The workshop aimed to bring together the leadership of ‘Regional Rural Banks’ (RRBs) to underline their vital role in supporting the Government of India’s ‘Lakhpati Didi’ initiative, which is a groundbreaking programme targeting the financial upliftment of rural women through credit facilitation and enterprise financing. Notably, the ‘Regional Rural Banks’ have played a pivotal role in extending financial services to rural areas, holding a substantial 40% share in Self-Help Group (SHG) bank linkage programmes nationwide.
Explaining the rationale of the initiative, Mr Jiji Mammen, Executive Director and CEO of Sa-Dhan said, “Promoting women enterprises from SHGs is the next level of the SHG – Bank linkage programme, which hitherto was focused on financial Inclusion. The Prime Minister has given a vision of developing three crore ‘Lakhpati Didis’, which aligns with developing many women enterprises. In this journey, the RRBs, which have a large presence in the rural areas, have a great role to play. The workshop is meant to carve out a common strategy for the same. Sa-Dhan is happy to play a role in it.”
Mr Shaji K V, Chairman of NABARD said, “Presently KCC and SHG loans are the major part of the RRB loan portfolio. There is a need to diversify the loan portfolio taking proper underwriting of loans. Supporting women enterprises is a right way of diversifying the asset portfolio of RRBs, which can help the household’s income and stimulate the economy towards Viksit Bharat. NABARD will support RRBs in achieving this, including developing a shared platform, if need be.”
Mr Anjani Kumar Singh, Senior Programme Officer, The Bill & Melinda Gates Foundation, which has collaborated with the National Rural Livelihood Mission (NRLM) of the Government of India and a partner of Sa-Dhan in this initiative, said, “Self-Help Groups (SHGs), despite women entrepreneurs leading the charge and their transformative potential, are facing hurdles in accessing tailored financing, especially of higher ticket size loans. Regional Rural Banks (RRBs), with their deep-rooted presence in rural India, hold the key to bridging this gap and enabling the success of women-led enterprises.”
With the ambitious goal of transforming three crore SHG members into ‘Lakhpati Didis’, the workshop emphasized the importance of RRBs’ active participation in credit-linking of these women-led enterprises. The event also explored the development of dedicated schemes by RRBs to ensure smooth financing for women entrepreneurs.
A senior government representative shared insights into the Government of India’s perspective on the scheme and the critical role of RRBs in driving its success. Discussions focused on designing innovative financing solutions tailored to the needs of women-led enterprises and fostering greater collaboration among stakeholders.
Sa-Dhan; with the support of Gates Foundation, India and NABARD has been committed to creating a robust ecosystem for enterprise financing that not only supports the financial goals of women entrepreneurs but also contributes to the larger agenda of rural economic development.;;
