Financial Inclusion

Under the Maharashtra State Rural Livelihoods Mission, the Department of Financial Inclusion opens bank accounts of SHGs in Nationalized, Regional Rural, Private and District Central Co-Operative Banks. After 90 days of establishment of SHGs they will receive a revolving fund of Rs. 15000 for SHGs internal lending as per their gradation. Bank loans are made available to these groups as per the rules of Reserve Bank of India after 6 months the establishment of SHGs. It provide livelihoods opportunities to women in SHGs. SHGs is given financial literacy training to help them manage money properly. BC Sakhi is employed to facilitate financial transactions of SHGs, VO & CLF digitally and provides banking facilities in rural and vulnerable areas. SHG members and their families are included in Pradhan Mantri Jeevanjyoti, Pradhan Mantri Suraksha and Atal Pension Yojana to enable SHGs to have risk coverage. Bank Sakhi, BC Sakhi and Financial Literacy Sakhi work for all the procedures of financial inclusion.