Govt to launch OD of ₹5,000 for women SHG members

As a part of Azadi ka Amrit Mahotsav, Shri Nagendra Nath Sinha, Secretary, Department of rural development, Ministry of rural development will launch the overdraft of ₹5,000 to verified women SHG members under DAY-NRLM, on 18th Dec 21.

The event will likewise include a “Discourse on Rural Financial Inclusion” in which high ranking representatives from Banks and State missions will participate. The annual awards for execution of Banks under DAY-NRLM, during the year 2020-21 will likewise be announced.

All Public Sector Banks and State Rural Livelihoods Missions will take an interest in the starting project which will be held through virtual mode. Overseeing Directors and Chief Executive Officers/Deputy Managing Directors, Executive Directors, Chief General administrators/General Managers of the banks and Chief Executive Officers/State Managing Directors from the State Rural Livelihoods Missions are expected to participate in the programme.

According to the announcement made by the finance minister during her Budget Speech of 2019-20 to allow overdraft office of ₹5,000/ – to confirmed SHG individuals, Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) under Ministry of Rural Development has started the process for providing OD office to females SHG individuals in the rural areas of the nation to meet their immediate/emergency requirements. It is estimated that around 5 crore females SHG individuals under DAY-NRLM will be eligible for this facility.