Prime Minister Narendra Modi will launch Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited on 2nd September at 12:30 PM via video conferencing. On the occasion, Prime Minister will also transfer Rs. 105 crore into the institution’s bank account.
The objective of establishing the Jeevika Nidhi is to provide easy access to funds at affordable interest rates to community members associated with Jeevika. All registered cluster-level federations of Jeevika will become the members of the Society. For the operation of this institution, the Government of Bihar as well as the Central government will contribute funds.
Entrepreneurship has flourished among women associated with Jeevika’s self-help groups over the years, leading to the establishment of numerous small enterprises and producer companies in rural areas. However, women entrepreneurs have often been compelled to depend on microfinance institutions charging high interest rates of 18%–24%. The Jeevika Nidhi has been conceived as an alternative financial system to reduce dependence on MFIs and ensure the timely availability of larger loan amounts at lower interest rates.
The system will operate entirely on a digital platform, ensuring faster and more transparent fund transfers directly into the bank accounts of Jeevika Didis. To facilitate this, 12,000 community cadres are being equipped with tablets.
This initiative is expected to strengthen entrepreneurship development among rural women and accelerate the growth of community-led enterprises. Around 20 lakh women from across the state of Bihar will witness this event.
