Plans to set up bank for SHGs in Koraput
Enthused by the success of women's Self Help Groups (SHGs) during last one year, Koraput district administration in Odisha plans to set up a bank for them.
If things move as per plans, the proposed Mission Sakti Credit Cooperative Society (MSCCS) in the tribal dominated area will be the first bank of its kind in the state.
"The blueprint for the cooperative society is being finalised. The bank will be launched soon. It will be like any other commercial bank and managed professionally. Apart from meeting the financial needs of the SHGs, it will also accept deposit from public", said Koraput collector Sachin Jadav.
Officials said SHGs of the district, which function under the state government's women's empowerment programme titled "Mission Sakti", was provided with a fixed fund of Rs 25 lakh.
"However, by successfully monitoring and guiding the SHGs in their activities, we have added Rs 10 lakh to the fund allocated by government in just a year's time," he said.
As many as 48 new livelihood projects like niger oil extraction units, two sanitary napkin manufacturing units, fly ash brick manufacturing units, tamarind deseeding unitsss, detergent and soap making units have been launched in the current financial year for the SHGs in the district and a fund of Rs 3.5 crore from the integrated action plan has been sanctioned for these programmes, he said.