Driven by the Self-Help Groups (SHGs), the SRLM has had decisive and positive impact on the lives of the rural people in Bihar and helped in the empowerment and self- reliance of the women in particular, Parmesh Shah, an expert of the World Bank's Rural Development programme, told PTI.
There has been significant increase in participation of the people of weaker sections in the governance process since the SRLM was launched in Bihar, he said.
The scheme has also helped the rural poor people in getting out of the debt trap from the private lenders by taking loan from the SHGs for the purpose, Shah said, adding it has been made possible with a revolving fund of Rs. 300 crores created by the SHGs to offer cheap loans to the borrowers in the rural areas.
The soft loan being provided by the SHGs has helped in retirement of 20 per cent loan taken from the private lenders, he said.
The SHGs have raised a capital of between Rs. 40 to 50 crores and took the remaining amount out of the revolving fund of Rs. 300 crores as loan from the banks to help out financially the rural people, the World Bank official said, adding that these SHGs were providing loans to the farmers and those involved in horticulture for livelihood and generation of income. More PTI KDK
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