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Rajasthan to get its first women's Financial Institution

Published on July 27, 2022
Current Context: Rajasthan Grameen Aajeevika Vikas Parishad (Rajeevika) signs MoU with Stree Nidhi, a government of Telangana organization to establish Rajasthan's first women's financial institution.
Rajasthan to get its first women's Financial Institution
  • The MoU was signed by Manju Rajpal, Rajeevika state mission director, and Stree Nidhi Managing Director G Vidyasagar Reddy.
  • Rajasthan Mahila Nidhi (RMN) will be established in the state following the 'Women fund model' of the Telangana government.
  • In the first year of implementation, RMN will be established in 15 districts. It will be established as a state-level cooperative financial institution through Rajeevika with a total grant of Rs 50 cr from the state government in two years.
  • The Rajasthan government has sent a proposal requesting a grant of Rs 110 cr from the central government. Rajeevika will contribute Rs 10 Lakh per cluster level union as share capital from 561 promoted cluster level federations.
  • The cluster level federation of Rajeevika will be the members of RMN. RMN will be started initially in six districts, Karauli, Alwar, Kota, Dungarpur, Rajsamand, and Jodhpur.
  • Through RMN loans up to Rs, 40,000 will be disbursed in 48 hours and loan amounts above this will be disbursed in 15 days.
  • CM of Rajasthan Ashok Gehlot has announced the setting up of banks run by women in budget 2022-23.
  • Static Knowledge:
    • CM of Rajasthan - Ashok Gehlot
    • Governor of Rajasthan - Kalraj Mishra

Question: 

Q.1 Name the state which is set to get its first women's financial institution.
a. Gujarat
b. Bihar
c. Rajasthan
d. Uttar Pradesh
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