Saturday, June 6, 2020
Home Uncategorized Five financial institutions helping in women empowerment in India

Five financial institutions helping in women empowerment in India

By Shivya Malhotra

New Delhi: Cooperative financial institutions in India have contributed immensely not only in empowering women but also encouraging them to march towards the realm of development. Not only did they usher a paradigm change in the society but also improved women’s social and economic condition in all spheres of life.

Being autonomous in nature, the cooperatives focus on the welfare of the members associated with it thereby making lives better without being under the control of a single person.

Here are five women-centric cooperatives which played a pivotal role in changing futures of many Indian women.

Kodachadri Women Souharda Cooperative Credit Society

This first all-women society of its kind came into existence in Tirthahalli Taluk under the Karnataka Souharda Sahakari Act. The society provides loans to help women entrepreneurs who are interested in setting up various ventures including handicraft, packaging, dairy farming, and handlooms earn a livelihood.  Over 2,500 women have benefited from the society.

Lauding the initiative of the society, President of the Karnataka Cooperative Apex Bank, R M Manjunatha Gowda said, “the society is looking further to provide skill-based and vocational training for rural women.”

The society has encouraged many women to be self-sufficient and contribute to the growth of the Indian economy.

Subhalaxmi Bahumukhee Mahila Samabaya Samiti Ltd.

The tenacity of 10 women transformed the lives of over 2,500 women in Jharsugda district by organizing them in Self Help Groups (SHG). Starting with nine villages, the group reached out to 51 villages to empower women. The body provides loans, helps in business plans, and carries out other activities to assist rural women in self-sustainability.

Shri Mahila Sewa Sahakari Bank Ltd.

This Micro-finance institution, established in  1974 as an Urban Cooperative, shaped the future of many women working in the unorganized sector.  Besides providing loans, they also help in charting strategies for small and medium scale business.

The 4,000 women members contributed Rs 10 each to inaugurate the Shri Mahila Sewa Sahakari Bank Ltd. Since then, the organization acts as a helping hand to the women workers caught in the vicious cycle of poverty.

Nayuma Women’s Co-operative Society Ltd.

Set up in August 2001, Nayuma Women’s Co-operative Society Ltd is fulfilling the need to generate employment for marginalized women. The body trains women in various fields, especially tailoring and cutting. The trainees are also given opportunities to get themselves established. Later, manufacturing of craftwork and handloom products was expanded into a large scale of business activities.

Mann Deshi Bank

The organization, since 1997, has been catering to the needs of rural women by providing financial services to them. The society went ahead to open seven branches and provided assistance to countless women for self-sustainability.

“In order to fulfill the need of rural poor and make ‘Jan Dhan Yojana’ a success, the Banking system in India needs a reinvention.” Said the founder,  Chetna Sinha.

Being the second largest microfinance bank in India, the organization is still ensuring to accumulate high results for the society as a whole.

These institutions have ushered in a new India where women are actively taking part in the nation-building process. The government needs to look into these and provide all out assistance and help setting up such bodies to reach to the women across the country.

NG News Deskhttp://www.newsgram.com
This represents the news desk of NewsGram.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Education Protects Women Against Memory Loss: Researchers

Education appears to protect older adults, especially women, against memory loss, say researchers, suggesting that children, especially girls, who attend school for longer will...

Severe Vision Loss Can Lead to Less Accurate Judgement of Distance of Nearby Sounds: Researchers

Researchers, including one of Indian-origin, have revealed that people with severe vision loss can less accurately judge the distance of nearby sounds, potentially putting...

Here Is The Essence of The Pious Bhagavad Gita

For those who do not know what happens in one of the greatest epic the Mahabharata, Here is a brief backdrop of that and...

Tourists Return to Venice as Italy Reopens Borders

International tourists have started to return to Venice after Italy reopened its borders as the once worst-hit country recovers from the coronavirus pandemic as...

Recent Comments

Annie Anderson Smith on Information on Wismar massacre
Annie Anderson Smith on Information on Wismar massacre
Ajith Fredjeev Dinakarlal on Vikram Lander Spotted On Moon
Dr. P. L. Salinkar on Vikram Lander Spotted On Moon
GMAT-Testpreppractice on All You Want to Know about GMAT Exam
Gillian ScottO'Connor on The Indian Diaspora in Jamaica
Faisal Ansari on NewsGram is hiring!
AryanBrahmin Dalit Rapists Inc on Can Devanagari script scale Indian linguistic wall?
Pendaftaran CPNS Kemenkumham on Jobs
Mrs India 2017 Mamta Trivedi on Kargil Divas - Mrs India 2018 on Major Padmapani Acharya: A portrait of valour
URL on 2
Winslow Padmore on Information on Wismar massacre
ಅಶೋಕ ಭ ಕಲ್ಗುಡ್ಡೆ on Siya Ke Ram: Distortions, lies, and mockery of Ramayana
ಅಶೋಕ ಭ ಕಲ್ಗುಡ್ಡೆ on Siya Ke Ram: Distortions, lies, and mockery of Ramayana
ಅಶೋಕ ಭ ಕಲ್ಗುಡ್ಡೆ on Siya Ke Ram: Distortions, lies, and mockery of Ramayana
चाणक्य my teacher on Tracing the Indian Diaspora in Suriname
Anubhuti Gupta on
Shubhi Mangla on Indian Diaspora in Holland
Jagpreet Kaur Sandhu on Dhanvantari: The father of Ayurveda
Jagpreet Kaur Sandhu on Are Indian Techies safe abroad?
Jagpreet Kaur Sandhu on Satyam: Speak truth, speak useful
கே மோகன் ஹைதராபாத் on Siya Ke Ram: Distortions, lies, and mockery of Ramayana
Linden Sinclair on Information on Wismar massacre
Linden Sinclair on Information on Wismar massacre
Vrushali Mahajan on Climate Change: Earth in Danger