Plans to set up bank for SHGs in Koraput

Koraput: Enthused by the success of women’s Self Help Groups (SHGs) during last one year, Koraput district administration plans to set up a bank for them. If things move as per plans, the proposed Mission Sakti Credit Cooperative Society (MSCCS) in the tribal dominated area will be the first bank of its kind in the state.

“The blueprint for the cooperative society is being finalised. The bank will be launched soon. It will be like any other commercial bank and managed professionally. Apart from meeting the financial needs of the SHGs, it will also accept deposit from public”, said Koraput collector Sachin Jadav.

Officials said SHGs of the district, which function under the state government’s women’s empowerment programme titled “Mission Sakti”, was provided with a fixed fund of Rs 25 lakh.

“However, by successfully monitoring and guiding the SHGs in their activities, we have added Rs 10 lakh to the fund allocated by government in just a year’s time,” he said.

As many as 48 new livelihood projects like niger oil extraction units, two sanitary napkin manufacturing units, fly ash brick manufacturing units, tamarind deseeding unitsss, detergent and soap making units have been launched in the current financial year for the SHGs in the district and a fund of Rs 3.5 crore from the integrated action plan has been sanctioned for these programmes, he said.

“We expect the profit of SHGs to cross Rs 1 crore this financial year and the proposed bank, if materialised, will be very much helpful for them. Group members who face difficulty in obtaining loans from various banks could obtain hassle-free loan from the bank. It can also invest in various other livelihood projects to strengthen the SHGs,” Jadhav said.

At present, Koraput has over 13,000 active women SHGs involving a total of 1.58 lakh women. Providing dietary services to patients at the district headquarters hospital, supplying uniforms to students of sevashrams (residential schools for SC and ST students) and chhatua (a supplementary nutritional diet) to the anganwadi centres are some of the flagship activities undertaken by SHGs in the district.

“In last one year, 55 youths, who had approached the administration, were provided jobs under Mission Sakti Programme”, the collector added.