In an attempt to empower women at the village level the Samajwadi party Government has declared loan at three per cent rate for women in rural areas from the State-run co-operative bank so that they can start small businesses
“Under the Mahila Gramin Samridhi Yojana the Uttar Pradesh Co-operative Rural Development Bank in collaboration with National Backward Class Finance Development Corporation (of Rashtriya Pichda Varg Vitt Vikas Nigam) will extend loan to rural women at three per cent interest rate,” Cooperatives Minister Shivpal Singh Yadav said here on Monday.
A woman could get a maximum loan of up to Rs1 lakh.
The Government announcement came after PM Narendra Modi announced revival of the co-operative banks. During his maiden visit to his parliamentary constituency Varanasi he had declared that Union Government has decided to pump in over Rs1,200 crore to revive sick banks.
“During last BSP regime the cooperative bank was on the verge of closure. The situation was so bad that even the employees were not getting salaries. Our Government pumped in Rs1,650 crore and the banks that had incurred losses of Rs204 crores in the last fiscal are now in a profit of Rs88 crore”, Yadav added.