Arunachal CM disbursed loan of Rs 8,27,47,000 to SFGs

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Itanagar: A loan amount of Rs 8,27,47,000 has been disbursed to 789 Self Help Groups (SHGs) on 21 July 2021 by Chief Minister Pema Khandu under the Deendayal Antyodaya Yojana National Rural Livelihoods Mission (DAY-NRLM).
State Bank of India (SBI), the Arunachal Pradesh Rural Bank (APRB), and the Arunachal Pradesh State Cooperative Apex Bank (APSCAB) have provided the loans.

While the APRB has given the highest Rs 4,90,46,000 loan to 504 SHGs, the SBI has loaned Rs 2,26,01,000 to 174 SHGs and APSCAB has doled out Rs 1,11,00,000 as loan amount to 111 SHGs.
The DAY-NRLM is being implemented by the Arunachal State Rural Livelihood Mission (ArSRLM) of the state Rural Development department facilitating a subsidized loan amount of Rs 1 lakh to each eligible SHG. The event was a part of the nationwide ‘Azadi ka Amrut Mahotsav’ in line with the Aatma Nirbhar Bharat Mission to commemorate the 75th anniversary of the country’s independence in 2022.

Commending the ArSRLM, especially its block-level coordinators, CM Khandu said that savings, thrift, and microfinance support to the SHGs under DAY-NRLM have been instrumental in initiating a transformational change at the household level in rural areas and are striving hard to address the formidable challenge of financial inclusion in rural areas. The ArSRLM is taking forward the state government’s vision of deepening financial inclusion by providing access to affordable and appropriate financial services, which would contribute towards improving GDP and lowering income inequality, CM added.

State Government has so far released DAY-NRLM grants through the ArSRLM in the form of revolving funds to 2,901 SHGs amounting to Rs 435.15 lakhs and community investment funds to the tune of Rs 1,285.16 lakhs to 280 primary level federations of SHGs.
Bankers, especially the SBI, APRB, and APSCAB have been at the forefront in providing credit linkage support to SHGs under DAY-NRLM

Representatives of various SHGs from across the state, Deputy Chief Minister Chowna Mein, and Rural Development Minister Bamang Felix were present during the virtual meet.