PM Modi launches Jeevika Nidhi to empower rural women entrepreneurs in Bihar

ddnews.gov.in

Prime Minister Narendra Modi on Tuesday virtually launched the Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited, a new cooperative initiative aimed at providing affordable credit to rural women entrepreneurs. According to an official release, Jeevika Nidhi has been designed as “an alternative financial system to reduce dependence on microfinance institutions (MFIs) and ensure the availability of larger loans at lower interest rates.” The initiative will be jointly funded by the Bihar government and the Centre. As part of the launch, PM Modi transferred Rs 105 crore into the institution’s bank account to kick-start operations. Emphasising women’s empowerment as central to India’s growth, PM Modi said:
“A major basis of India’s development is the empowerment of its women. To empower women, it is essential that all kinds of difficulties are removed from their lives. That is why we are taking many steps to make the lives of mothers, sisters and daughters easier.” Read full article