JAIPUR: The Rajasthan Government has decided to simplify the process for sanctioning loans to women in rural areas under the women’s development credit scheme and doubled the maximum amount of permissible loan from Rs.25,000 to Rs.50,000.
The loans will be sanctioned to women members of village cooperative societies through 36 primary cooperative land development banks across the State for helping them generate additional sources of income and raise their standard of life.
State Cooperative Minister Parsadilal Meena said here that the loans would be given mainly for dairy and non-agricultural activities. The beneficiaries will repay the loan in five years, with the instalments fixed on a monthly or quarterly basis.
Mr. Meena said the machinery or livestock purchased under the scheme would be insured in favour of the bank. All the primary cooperative land development banks have been instructed to disburse loans under the scheme on priority to enable the rural women develop new sources of income and gain economic self-reliance.
In another move for financial empowerment of women, the State Government has sanctioned grants to 53 women’s cooperative societies. These societies are functioning in Jaisalmer, Alwar, Kota, Hanumangarh, Karauli and Sriganganagar districts.