Patna: In a significant step towards strengthening women’s economic empowerment, the Bihar government has launched ‘Jeevika Nidhi Credit Cooperative Union Limited’ with an initial funding of Rs 105 crore. The initiative will function like a dedicated banking service for women associated with Jeevika self-help groups (SHGs), offering them timely and affordable loans for income-generating activities.
The first meeting of the management committee, held on Thursday in the Rural Development Department auditorium, approved 20 key agendas and outlined a three-month action plan. The meeting was attended by Rural Development Secretary Lokesh Kumar Singh, CEO of Jeevika Himanshu Sharma, senior officials from NABARD, the State Level Bankers Committee, and 12 Jeevika members on the committee.
Of the Rs 105 crore sanctioned, Rs 5 crore has been allocated for establishment expenses. The fund aims to grow significantly in the coming months, with a target of mobilising Rs 2,000 to 3,000 crore. A total of 653 posts—43 at the state level, 76 at the district level, and 534 at the block level—have been approved for contractual or deputation-based recruitment to support the fund’s operation.
In its initial phase, Jeevika Nidhi will offer three loan categories to women entrepreneurs in SHGs:
- Rs 15,000 with a 1-year repayment period
- Rs 75,000 with a 2-year repayment period
- Rs 2,00,000 with a 3-year repayment period
All loans will carry a 12% annual interest rate. The management committee will retain the authority to revise interest rates as needed. According to Himanshu, the fund will introduce tailored loan products designed to meet urgent capital needs and promote small businesses, helping women become more financially self-reliant.
Officials underscored that the fund will reduce dependence on informal lenders and ensure faster access to capital. “Jeevika Nidhi will play a pivotal role in accelerating rural women’s financial inclusion,” said Lokesh, noting that this effort represents a long-term vision for inclusive rural development.
