Establishment of cooperative bank run by women for the first time in Rajasthan

Tags: Economy/Finance State News

A MoU was signed between Rajasthan Rural Livelihood Development Council (Rajivika) and Streenidhi Telangana for technical assistance in the establishment of the first and country's third "Women Financial Institute" in Rajasthan.

Important facts

• The MoU has been signed by Rajivika on behalf of Rajivika by State Mission Director Manju Rajpal and Telangana Managing Director of Women Fund G. Vidyasagar Reddy.

• The Rajasthan Women Fund in the state is being set up successfully on the lines of the women's fund model operated in Telangana.

• After the establishment of the Women's Fund, the economic empowerment of women of Rajivika's self -help groups will be strengthened and they will be able to receive loans for their enterprise.

• This fund will be operated by women of SHG only for women of SHG.

• The Rajasthan Women's Fund will serve as a supplementary financial institution with formal banks.

• For the establishment of Rajasthan Women's Fund, a total grant of Rs 50 crore (25 crore rupees in the first year) will be given by the state government in two years and proposals have been sent to the Central Government for a grant of Rs 110 crore.

• In the budget of 2022-23 by Chief Minister Ashok Gehlot, it was announced regarding the establishment of banks run by women.

• It will be set up on the lines of the Stree Nidhi model of Telangana.