More than Rs. 14 thousand crore of Community Investment Support Funds have been provided to SHGs and their federations
06 AUG 2021 5:56PM by PIB Delhi
Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), one of the flagship programmes of the Union Government, has a provision for providing Community Investment Support Fund (CISF) to the Self Help Groups (SHGs) in the form of Revolving Fund (RF) at the rate of Rs.10,000-15,000 and Community Investment Fund (CIF) to the extent of Rs.2,50,000 per SHG. Till 30th June 2021, 7.63 crore rural households have been mobilised into 69.92 lakh women Self Help Groups (SHGs) under the mission. As on 30th June, 2021, a total of Rs.14,071.02 crore of Community Investment Support Funds have been provided to SHGs and their federations. These funds remain with the SHGs and their federations in perpetuity and are utilized to provide loans to their members to undertake socio-economic activities as per micro-credit/investment plans and also to use it as leverage for credit from the bank.
DAY-NRLM has adopted an online fund disbursement module to track the disbursal of Community Investment Support Funds to SHGs and their federations. As the funds have been provided to the community institutions, the monitoring of disbursal, utilisation and repayment of community funds is done by the community institutions themselves. For this purpose the community institutions are trained on community fund management and accounting system by the concerned State Rural Livelihoods Missions (SRLMs) and they maintain books of accounts for their financial transactions.
This information was given by Union Minister of State for Rural Development Sadhvi Niranjan Jyoti in a written reply in Rajya Sabha today.
(Release ID: 1743299)
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