Arunachal Pradesh disburses over Rs 8 cr loan to SHGs under DAY NRLM

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ITANAGAR: The Arunachal Pradesh government on Wednesday disbursed a loan of over eight crores to 789 Self Help Groups (SHGs) of the state under the Deendayal Antyodaya Yojana National Rural Livelihoods Mission (DAY NRLM).

Chief Minister Pema Khandu virtually disbursed the amount of Rs 8, 27,47,000 under the scheme which was provided by three banks namely, State Bank of India (SBI), Arunachal Pradesh Rural Bank (APRB) and the Arunachal Pradesh State Cooperative Apex Bank (APSCAB).

While APRB has given the highest loan amount of Rs 4,90,46,000 to a total of 504 SHGs, SBI provided a loan of Rs 2,26,01,000 to 174 SHGs and APSCAB has doled out Rs 1,11,00000 as loan amount to 111 SHGs.

The scheme 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, officials informed.

The event is a part of the nationwide 'Azadi ka Amrut Mahotsav' in line with the Aatma Nirbhar Bharat mission to commemorate the 75th anniversary of Indian Independence in 2022.

ArSRLM is currently implementing DAY NRLM in 22 districts and has brought 33,516 rural households under it. The dedicated mission management units at the state, district clusters and block levels provide continued handholding support to SHGs for strengthening their institutions, financial inclusion, promotion of livelihoods and expanding the existing basket of livelihoods of SHG members, the officials said.

Commending ArSRLM, especially its block-level coordinators, Pema 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.

"We are striving hard to address the formidable challenge of financial inclusion in rural areas where our citizens are not having the desired level of access to financial services. 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," Khandu said.

Asserting that it is the vision of the state government to transform the rural economy of the state, Khandu said that a proper roadmap has to be evolved to take the process further.

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