R.K Mossang Memorial Society ( RKMMS ) organised a work shop on Financial Literacy and SHG Bank credit Linkage of SHGs at Jairampur 29.06.2018. The programme was supported by National Bank for Agriculture and Rural Development (NABARD).
Mr Kamal Roy, District Development Manager, NABARD, two Branch Managers of SBI Jairampur & Lemkhum Mossang, Public Leader, along with 68 nos. of SHG members participated in the programme.
Kamal Roy, took the session on Financial Literacy and Bank Credit Linkage SHGs. The aim of the programme was to create awareness among the SHGs regarding the various financial products that are being offered by Banks to general public.
Kamal Roy informed the SHGs about Financial Inclusion, Financial Planning, various financial products like Saving a/c, RD, FD, Loans and advances, PMJDY, PMSSY, PMJJBY, APY, GSS Viz. DEDS, NLM, DDU Bunkar Yojna and CM’s Krishi Rinn Yojana.
He explained the objectives of SHG-bank linkage programme to the participants. The formalities including banks’ KYC norms along with procedures for obtaining term loans/cash credit was explained.
The programme content also included role of Self Help Promoting Institutions like R K Mosssang Memorial Society, rationale of internal lending, fixing of interest rate for internal lending, freedom of selection of activity as well as rating of SHGs by bank branches.
The session key aspects of SHGs were explained to the participants.
The session contents included importance of voluntary savings in SHGs, cash credit system/term loan, changing profile of matured SHGs and their financial requirements and the need for forming Joint Liability Groups within SHGs.
NABARD’s Micro enterprise Development Programme (MEDP) was explained to SHG members. The process of entrepreneurship development and management was explained to participants. The key aspects like survey, implementation as well as proper marketing of produce were thoroughly discussed in the session.