Union Minister for Agriculture and Farmers’ Welfare and Rural Development Shri Shivraj Singh Chouhan has called for faster and easier access to institutional credit for women-led Self-Help Groups (SHGs) and rural enterprises under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM).
Chairing a high-level meeting in Mumbai on Thursday, Shri Chouhan reviewed SHG-bank linkages and financing available to individual women entrepreneurs. The meeting brought together SHG members, bankers, State Rural Livelihood Missions (SRLMs), the Reserve Bank of India (RBI), NABARD and other stakeholders to examine challenges in the lending process and develop practical solutions.
Focus on Faster and Accessible Credit
The discussions focused on several issues faced by SHG members, including delays in loan approvals, excessive paperwork, inadequate credit limits and difficulties encountered at bank branches. Regional differences in access to finance were also examined.
Shri Chouhan directed stakeholders to ensure that the commitments made during the meeting are implemented within clearly defined timelines. To maintain regular oversight, he announced that stakeholders would hold virtual meetings every three months and physical meetings every six months.
The government also plans to establish a dedicated helpline to help SHG members report difficulties related to bank loans and facilitate the resolution of lending-related problems.
Six Crore Lakhpati Didis Target
Emphasising the importance of women’s economic empowerment, Shri Chouhan said it is central to the vision of building a developed India. He highlighted Prime Minister Narendra Modi’s target of increasing the number of Lakhpati Didis from three crore to six crore.
The Minister noted that reaching the first three-crore milestone was comparatively easier because several women were already earning between ₹60,000 and ₹80,000 annually. The next phase, however, would require bringing women with annual incomes of ₹30,000, ₹40,000 and ₹50,000 into the Lakhpati Didi category by supporting them in expanding their economic activities.
He urged officials and bankers to approach the mission with commitment and a strong sense of responsibility, stressing that improving women’s livelihoods should remain at the centre of their efforts.
Greater Sensitisation of Bank Officials
Shri Chouhan said many difficulties experienced by SHG members arise at the banking level and called for better training and sensitisation of bank personnel.
He also stressed the need for stronger coordination between banks and SRLMs. According to him, private-sector banks should participate actively in SRLM meetings as well as District Level Consultative Committee meetings to ensure that credit-related issues are addressed effectively.
The Minister further called for greater attention to poorer regions, pointing out that credit should reach areas where the need is greatest rather than being concentrated primarily in relatively prosperous locations.
₹13.67 Lakh Crore Credit Extended to SHGs
DAY-NRLM has so far mobilised more than 10 crore rural women into around 92–93 lakh Self-Help Groups. Banks have extended cumulative credit exceeding ₹13.67 lakh crore to these groups.
Around 3.5 crore women have already emerged as Lakhpati Didis, while the government aims to take the number to six crore. Over the next five years, the government has set an ambitious target of making ₹10 lakh crore in loans available to SHGs and ₹1 lakh crore to individual women members.
Financial Inclusion 2.0 to Drive Next Phase
The outcomes of the Mumbai meeting are expected to contribute to the government’s Financial Inclusion 2.0 action plan. The initiative will seek to improve the timeliness and adequacy of credit for SHGs, strengthen financing opportunities for women entrepreneurs and expand access to quality financial services in rural areas.
By combining improved banking processes, a dedicated grievance helpline, regular monitoring and stronger coordination among stakeholders, the government aims to remove barriers that prevent rural women from accessing formal finance.
Shri Chouhan urged all stakeholders to remain focused on the larger objective of empowering rural women and achieving the Lakhpati Didi target within the stipulated timeframe.
Author: Shivam
Shivam Dwivedi is a senior journalist with extensive experience in research-driven journalism, policy communication, and multi-platform storytelling. His areas of interest include international relations, defence, science & technology, education, urban development, agriculture, spirituality, and environmental sustainability. His work focuses on in-depth analysis, public discourse, and impactful narratives across governance and development sectors, with a strong commitment to the Sustainable Development Goals (SDGs). Contact: [email protected]
