Bring 5-7 lakh new SHGs under micro credit, Chidambaram tells banks

By Staff
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Google Oneindia News

Kolar, Karnataka, Apr 15 (UNI) In its bid to empower women, the UPA Government at the Centre will bring five to seven lakhs Self Help Groups (SHGs) under the credit link plan every year, Union Finance Minister P Chidambaram said today.

Speaking to SHG women in this district at a conclave organised by public-sector Canara Bank at Honnenahalli near here, he said the UPA Government had launched a campaign to empower women, especially the rural poor, and make them financially independent.

Mr Chidambaram said over 25 lakh SHGs were availing micro credit at present and the Government wanted to take this figure up to 50 lakh or even one crore in the coming years.

''During the last three years of UPA rule, we have taken the campaign to all corners of the country to popularise the concept of SHGs and extend credit through public sector banks. SHGs are very important in our scheme of things, in which first priority is given to uplift the economic condition of rural India. The banks too are happy to lend to the womenfolk as they have proved to be the best repayers of loan and the NPA among the credit extended by banks to SHGs was as low as 0.5 per cent,'' he said.

Empowerment of women was high on the Union Government's agenda and it could happen only if they had a constant income, he opined.

''You may get social status, dignity, happy family, but they should also have their own income. Most of the property or income from agriculture or trade has been cornered by men. This is the reason for women to always depend on men in rural India, be it her father, husband, son or gandson. This must change,'' Mr Chidambaram said.

Hence, the UPA Government had decided to give them an opportunity to earn their own income and take up work they like the most. ''This was the reason why former Prime Minister Indira Gandhi mooted the idea of SHGs way back in 1983,'' he said.

UNI

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