Patna: Prime Minister Narendra Modi will virtually inaugurate the Bihar State Jeevika Nidhi Branch Cooperative Union Limited on September 2, launching a new financial institution aimed at supporting rural women. As part of the event, he will transfer Rs 105 crore into the accounts of Jeevika self-help groups across the state.
The cooperative has been created to provide women linked with Jeevika with access to affordable loans at low interest rates, reducing their reliance on microfinance institutions that often charge between 18% and 24%. Funding will be shared between the Bihar and central governments.
Jeevika’s network of cluster-level federations will serve as members of the new cooperative, with the initiative expected to expand financial inclusion and boost small-scale rural entrepreneurship. To strengthen digital access, 12,000 community cadres are being provided with tablets to assist women in carrying out transactions.
The programme is projected to benefit about 20 lakh women, many of whom have established small enterprises through Jeevika’s self-help groups. The launch event will be streamed to community gatherings across Bihar, ahead of PM Modi’s scheduled visit to Purnia on September 13.
