Mumbai, February 27, 2024: In a strategic alliance to benefit rural women SHGs, NABARD and the National Rural Livelihood Mission (DAY-NRLM) under the Ministry of Rural Development, GoI have joined hands to harmonize NABARD’s role of enabler and facilitator in the SHG ecosystem.
According to the NABARD officials, the partnership covering a period of 3 years seeks leverage the unique strengths of both entities towards promoting women led development in rural areas.
An MoU in this regards was signed by Shri Charanjit Singh, Additional Secretary, (Rural Livelihoods), MoRD, Govt. of India on behalf of NRLM while Shri Ajay K. Sood, Deputy Managing Director, signed for NABARD, in the presence of Shri Shaji K.V., Chairman and Shri G.S. Rawat, Deputy Managing Director, NABARD.
As per the MoU, DAY-NRLM will engage with respective State/UT Rural Livelihood Missions to facilitate their participation as Project Implementing Agencies with the Regional offices of NABARD in each state/UT under NABARD’s niche development schemes. The partnership will cover programmes being run for capacity building, skilling & entrepreneurship training of matured women SHGs. It will also facilitate physical and online marketing support schemes, graduation of SHG clusters to Producer Organizations both in farm and non-farm sectors for sustainable economic activities and promotion of climate resilient agriculture for women SHGs, livelihood interventions to women SHGs in NABARD’s Wadi.
The MoU further aims to develop pilots in digital transactions of SHG federations to usher in transparency and efficiency with quick Turn Around Time (TAT) for members, besides exploring options to facilitate deployment of women SHG members as business correspondents of banks.
The National Bank for Agriculture and Rural Development (NABARD) is an apex development financial institution in India. Headquarters in Mumbai, the institution was established on 12 July 1982, with a mission to promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institutional development, and other innovative initiatives. NABARD plays a crucial role in fostering rural development, empowering farmers, and catalyzing the growth of the rural economy.
