Shivraj Singh Chouhan Reviews SHG-Bank Linkages, Sets Ambitious Credit Targets
Union Minister for Agriculture & Farmers' Welfare and Rural Development Shri Shivraj Singh Chouhan chaired a high-level meeting in Mumbai to review Self-Help Group-bank linkages and individual enterprise financing under the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM). The meeting laid out a concrete roadmap for ensuring faster, adequate and accessible credit for women entrepreneurs, with specific financial targets and operational directives.
The government has set ambitious five-year credit targets of ₹10 lakh crore for SHGs and ₹1 lakh crore for individual women entrepreneurs. This initiative supports Prime Minister Narendra Modi's vision to increase the number of Lakhpati Didis from three crore to six crore. Currently, approximately 3.5 crore Lakhpati Didis have been created against this target of six crore.
Under DAY-NRLM, significant progress has already been achieved with more than 10 crore rural women organized into 92-93 lakh Self-Help Groups. Banks have extended cumulative credit of more than ₹13.67 lakh crore to SHGs. The Minister noted that many banks have achieved one-and-a-half times their targets this year, with some achieving twice their targets.
The meeting addressed ground-level challenges faced by SHG members, including delays in loan approvals, excessive paperwork, low credit limits, and difficulties at branch levels. Regional disparities were specifically discussed, with emphasis on directing more resources to poorer regions where need is greater. Minister Chouhan directed that areas with higher poverty levels must receive greater attention, stating "Let us light the lamp where darkness still exists."
Operational directives include establishing a helpline to address difficulties faced by SHG members in accessing bank loans, mandatory quarterly virtual reviews and half-yearly physical meetings to ensure time-bound delivery, and improved training and sensitization of bank officials at branch levels. Private bankers were specifically directed to ensure participation in District Level Consultative Committee (DLCC) meetings, addressing complaints about their frequent absence.
The discussions will feed into the future action plan under the Financial Inclusion 2.0 vision, focusing on timely and adequate credit for SHGs, dedicated financing for women entrepreneurs, and expanding access to high-quality financial services across rural India. The initiative represents a significant step toward strengthening women-led rural development, deepening financial inclusion, and promoting inclusive economic growth across rural India.