Women's bank to be set up in Rajasthan along the lines of Telangana's Stree Nidhi model

Rajasthan Grameen Aajivika Vikas Parishad (RGAVP) and Stree Nidhi-Telangana on Monday signed an agreement to set up a financial institution for women in Rajasthan.

'Rajasthan Mahila Nidhi' is being set up in the state on the lines of Telangana's Stree Nidhi model.

The agreement was signed by RGAV Mission Director Manju Rajpal and Stree Nidhi managing director G Vidhyasagar Reddy in the presence of rural development minister Ramesh Chand Meena, according to a release.

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Chief minister Ashok Gehlot had announced in the state budget 2022-23 for setting up a bank run by women.

Meena said that after Mahila Nidhi's establishment, women's economic empowerment would get a boost and they would be able to get loans for their enterprises.

He said that the number of loan applications pending in banks will also come down.

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The minister said that this fund would be operated by the women SHG (Self Help Group) for the women of SHG only.

"Rajasthan Mahila Nidhi will act as a complementary financial institution with formal banks," he said.

RGAVP is an autonomous society established by the government of Rajasthan under the administrative control of the Department of Rural Development.