The Deendayal Antyodaya Yojana (DAY-NRLM) and the Small Industries Development Bank of India (SIDBI) have signed a Memorandum of Understanding (MOU) marking a significant milestone in women-led enterprises in India. The MoU, set to last two years, was signed in the presence of Secretary Rural Development and SIDBI officials.
This strategic partnership brings together the expertise of DAY-NRLM and SIDBI to create a transformative initiative aimed at promoting women-led enterprises among experienced members of Self Help Groups (SHGs). The primary focus of this collaboration is to demonstrate on-the-ground activities that establish a reliable and sensitive support structure for the capacity enhancement of women entrepreneurs (WEs). Furthermore, it aims to institutionalize standard protocols, systems, and procedures for streamlined access to formal finance, as well as the development of a comprehensive framework for new financial products and schemes.
Key outcomes expected from this collaboration are:
- Enhanced capacity and ability of State Rural Livelihood Missions (SRLM) teams to promote the graduation of seasoned SHG members into micro-entrepreneurs
- The establishment of a reliable and sensitive support architecture for women-led enterprises, involving a network of field cadres, mentors, and experts
- The implementation of standardized protocols within DAY-NRLM to support women-led enterprises
- The formation of partnerships with financial institutions and a network of financiers
- The design and implementation of new financial schemes, such as credit guarantees and interest subventions
- The creation of clear, scalable models for promoting women-led enterprises which can be replicated nationwide
This strategic partnership reflects the Government’s commitment to women’s economic empowerment and entrepreneurship, focusing on making the entrepreneurial landscape more inclusive and supportive of women-led businesses. By combining the strengths of DAY-NRLMand SIDBI, this initiative seeks to open up new avenues for women entrepreneurs, ultimately contributing to the economic growth and prosperity of the nation.
Stay Update with FELA NEWS|
Source: PIB
