Prime Minister virtually launched Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited, a first-of-its-kind cooperative financial body aimed at providing affordable loans to rural women entrepreneurs in Bihar. PM transferred ₹105 crore into institution’s bank account during launch.
Key Features of Scheme
- Purpose: To empower rural women entrepreneurs by giving easy access to credit at low interest rates.
- Membership: All Cluster-Level Federations (CLFs) of Jeevika will be members of this cooperative society.
- Funding: Both the Government of Bihar and the Central Government will contribute funds.
- Digital Operation: Entire system to be digitally managed, ensuring speed and transparency.
- Technology Integration:
- 12,000 community cadres equipped with tablets.
- Women can access funds directly via mobile apps, eliminating middlemen.
- Loan Benefits:
- Will reduce dependence on microfinance institutions (MFIs) charging 18–24% interest.
- Will provide larger, cheaper, and timely loans.
- Impact: Around 20 lakh rural women entrepreneurs in Bihar expected to benefit.
Significance
- Women Empowerment: Strengthens rural women’s financial independence and entrepreneurship.
- Reducing Exploitation: Prevents women from falling prey to high-interest microfinance loans.
- Strengthening Cooperatives: Builds a community-owned cooperative credit structure at the grassroots level.
- Synergy with Other Schemes: Supports women-focused initiatives like:
- Lakhpati Didi (to create women earning ₹1 lakh annually),
- Drone Didi (women in agri-drone operations),
- Bank Sakhi (women banking correspondents).
Jeevika (Bihar Rural Livelihoods Project)
- Implemented by the Bihar Rural Livelihoods Promotion Society (BRLPS) under the Rural Development Department, Govt. of Bihar.
- Supported by the World Bank since 2006.
- Works on Self-Help Groups (SHGs) model for rural poverty alleviation.
- Has mobilized over 1 crore women into SHGs across Bihar.
About Cooperative Movement in India
- India’s first cooperative society was registered in 1904 (Cooperative Credit Societies Act, 1904).
- Amul (Anand Milk Union Ltd., Gujarat) is India’s most successful cooperative model.
- Ministry of Cooperation was formed in 2021, headed by the Home Minister, to strengthen cooperatives nationwide.
About Bihar
- Capital: Patna
- Governor: Arif Mohammad Khan (as of 2025)
- CM: Nitish Kumar (as of 2025)
- Population: ~12.5 crore (Census 2011: 10.4 crore)
- Major Schemes: Mukhyamantri Udyami Yojana, Kushal Yuva Program, Jeevika Project.