Banking Services chronicle

Banking Services chronicle

Banking Services chronicle Published this article page no  129 Genesis o Swarnjayanti Gram Swarozgar Yojana (SGSY) started in 1999 was restructured in FY 201011 for implementation as the National Rural Livelihoods Mission to provide a sharper and greater focus as well as momentum for poverty reduction. o In 2015 the program was renamed Deendayal Antayodaya Yojana (DAYNRLM).Ministry Ministry of Rural Development (MoRD)DAY NRLM is a Centrally Sponsored Schemes.Key Features o Universal social mobilization At least one woman member from each identified rural poor household is to be brought under the Self Help Group (SHG) network in a time bound manner. Special emphasis is particularly on vulnerable communities. o Participatory identification of poor The inclusion of the target group under NRLM is determined by a welldefined transparent and equitable process of participatory identification of poor at the level of the community. All households identified as poor through the PIP process is the NRLM Target Group and is eligible for all the benefits under the programme. o Community funds as resources in perpetuity NRLM provides Revolving Fund (RF) and Community Investment Fund (CIF) as resources in perpetuity to the institutions of the poor to strengthen their institutional and financial management capacity. o Financial inclusion On the demand side it promotes financial literacy among the poor and provides catalytic capital to the SHGs and their federations. On the supply side the Mission coordinates with the financial sector and encourages use of Information Communication & Technology (ICT) based financial technologies business correspondents and community facilitators like Bank Mitras. o Livelihoods NRLM focuses on stabilizing and promoting existing livelihood portfolio of the poor through vulnerability reduction livelihoods enhancement tapping new opportunities in farm and nonfarm sectors building skills and nurturing selfemployed and entrepreneurs. o Other featuresHigh emphasis on convergence with other programmes of the MoRD and other Central Ministries.Proactively seeking partnerships with NonGovernment Organizations (NGOs) and other Civil Society Organizations (CSOs) at two levels  strategic and implementation Banking Services chronicle  buy.

Banking Services chronicle