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The Union Rural Development Minister reviewed Self-Help Group bank linkages under DAY-NRLM and laid out a credit roadmap for women entrepreneurs.
The roadmap commits Rs 10 lakh crore of credit to SHGs and Rs 1 lakh crore to individual women entrepreneurs over five years.
The Lakhpati Didi target has been raised from 3 crore to 6 crore, as announced from the Red Fort this year.
A helpline was directed to be set up for SHG members facing difficulty in accessing bank loans, with quarterly virtual and half-yearly physical reviews.
Organise poor rural households into Self-Help Groups and build their access to finance, skills and markets.
Key: Launched by the Ministry of Rural Development in June 2011 as Aajeevika-NRLM and renamed DAY-NRLM in 2015. Its core delivery unit is the SHG federated up to village and cluster level.
Raise SHG households to a sustained annual income of at least Rs 1 lakh.
Key: Operates within DAY-NRLM rather than as a separate scheme; the target now stands at 6 crore women, doubled from the original 3 crore.
Connect informal savings groups to the formal banking system without individual collateral.
Key: Piloted by NABARD in 1992, it is the mechanism through which the Rs 10 lakh crore credit commitment will actually flow.
Nodal ministry for DAY-NRLM and the Lakhpati Didi target.
Apex development bank for agriculture and rural development; piloted the SHG-Bank Linkage Programme in 1992 and refinances rural lending.
State-level implementing agencies that mobilise SHGs and run the mission on the ground.
Pension regulator, present at the review — pension coverage for SHG women is part of the wider financial-inclusion push.
GS Paper 2 > Governance > Welfare Schemes for Vulnerable Sections
General Awareness > Financial Inclusion and Priority Sector
A small voluntary savings group, usually of 10-20 rural women, which lends internally and borrows from banks without individual collateral.
An SHG woman whose household earns at least Rs 1 lakh a year on a sustained basis.
The channel through which banks lend to an SHG as a group, rather than to its members individually.