GUWAHATI: Assam State Rural Livelihoods Mission (ASRLM) signed a Memorandum of Understanding (MoU) with North East Small Finance Bank (NESFB) on Saturday to work in cohesion in support of Bank Linkage of the Self-Help Groups (SHGs) and Producer Groups/ Enterprises under ASRLM.
ASRLM is the first amongst all the State Livelihood Missions to initiate the signing of MoU with the new generation small finance banks. The MoU was signed by Utpala Saikia, SMD, ASRLM and Rupali Kalita, Managing Director cum CEO, NESFB.
Both ASRLM and NESFB share the common goal of empowering women at grassroots by focusing on linking them with the banks for loans so that they can develop themselves into entrepreneurs with various livelihood generation activities. This collaboration of ASRLM and NESFB will cater to the financial needs of many SHG members, other higher level federation like VOs, CLFs, Producer Groups, Producer Collectives etc. to kick-start their dream projects of livelihood enhancement. NESFB will support the SHG members in opening Individual and group accounts with minimum required documentation and within a shorter time span. NESFB will also be providing loans to the SHGs amounting within a range of Rs.1 lakh to Rs. 5 lakh depending on the proposals. The MoU also focuses on the disbursement of loans within shorter span of time and accelerate repeat linkage, a press release said.
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