PM Modi to inaugurate Bihar's Jeevika Nidhi Cooperative Federation today

New Delhi, Sep 2 (IANS) Prime Minister Narendra Modi will inaugurate the Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited on Tuesday at 12:30 p.m. via video conferencing.

As part of the formal launch, he will also transfer Rs 105 crore directly into the institution’s bank account, giving the new cooperative a strong financial foundation.

This newly formed cooperative is designed to offer affordable and accessible financial services to women associated with Jeevika, Bihar’s flagship rural livelihoods program.

All registered Cluster-Level Federations under Jeevika will be members of this new institution. The initiative is jointly funded by the Government of Bihar and the Central Government.

Over the years, thousands of women involved with Jeevika’s self-help groups have become rural entrepreneurs, launching small businesses and production units across the state.

However, many of them remained dependent on microfinance institutions (MFIs) that charged high-interest rates ranging from 18 per cent to 24 per cent.

The Jeevika Nidhi aims to address this issue by providing larger loans at significantly lower interest rates, reducing reliance on costly credit sources.

The entire platform will operate digitally, ensuring fast, transparent transactions. To facilitate this, around 12,000 community cadres are being equipped with tablets, enabling them to assist Jeevika women, or "Didis", in accessing and navigating financial services.

This move is expected to significantly boost financial inclusion, empower rural women, and promote community-led entrepreneurship.

Approximately 2 million women across Bihar are expected to watch the live inauguration, underlining the massive grassroots impact of the initiative.

The Jeevika Nidhi Federation is being seen as a landmark step toward building a more inclusive and self-reliant rural economy in Bihar, rooted in women's empowerment and cooperative strength.

--IANS

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