Empowering Women, DAY-NRLM and SIDBI Collaborate

DAY-NRLM and SIDBI

In a historic development, the Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM), operating under the Ministry of Rural Development, and the Small Industries Development Bank of India (SIDBI) have formalized a significant Memorandum of Understanding (MOU). This transformative agreement, spanning two years, represents a major leap forward in advancing women-led enterprises in India. The monumental signing ceremony, graced by Secretary Rural Development Shri Shailesh Kumar Singh and Chairman & Managing Director of SIDBI Shri Sivasubramanian Ramann, marks a pivotal moment.

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Key Figures and Participants

DAY-NRLM was represented by Additional Secretary Rural Livelihoods, Shri Charanjit Singh, who signed the document, while SIDBI’s Chief General Manager, Dr. S. S. Acharya, represented the bank. Noteworthy attendees included Joint Secretaries of Rural Livelihoods, Smt Smriti Sharan and Smt Swati Sharma, Director Rural Livelihoods Shri Raghevendra Pratap Singh, and Dy. General Manager of SIDBI Shri Saurav Bajpai.

Strategic Alliance for Women-Led Enterprises

This strategic collaboration amalgamates the proficiency of DAY-NRLM and SIDBI to spearhead a transformative initiative geared towards promoting women-led enterprises within experienced members of Self Help Groups (SHGs). The primary objective is to establish on-the-ground activities that forge a dependable support structure for the capacity enhancement of women entrepreneurs (WEs). Additionally, the collaboration seeks to standardize protocols for streamlined access to formal finance and develop a comprehensive framework for introducing new financial products and schemes.

Anticipated Outcomes: DAY-NRLM and SIDBI

Enhanced Capacity of SRLM Teams:
Aiming to augment the capacity of State Rural Livelihood Missions (SRLM) teams, facilitating the graduation of seasoned SHG members into micro-entrepreneurs.
Establishment of Support Architecture:
Creating a reliable and sensitive support architecture for women-led enterprises, involving a network of field cadres, mentors, and experts.
Standardized Protocols within DAY-NRLM:
Implementing standardized protocols within DAY-NRLM to provide consistent support for women-led enterprises.
Partnerships with Financial Institutions:
Forming partnerships with financial institutions and a network of financiers to ensure robust financial support.
Introduction of New Financial Schemes:
Designing and implementing new financial schemes, including credit guarantees and interest subventions, to enhance financial accessibility.
Development of Scalable Models:
Creating clear, scalable models for promoting women-led enterprises, with the intention of nationwide replication.

Government’s Dedication to Women’s Economic Empowerment

This strategic partnership underscores the government’s steadfast commitment to women’s economic empowerment and entrepreneurship. The collaborative effort aims to cultivate an inclusive and supportive entrepreneurial landscape for women-led businesses. By synergizing the strengths of DAY-NRLM and SIDBI, this initiative aspires to pave new pathways for women entrepreneurs, significantly contributing to the economic growth and prosperity of the nation.

Priti Palit

Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti’s expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

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