Ministry of Rural Development Signed MoU with Meesho

Ministry of Rural Development signed an MoU between the ministry and Meesho an e-commerce platform owned by Bengaluru-based Fashnear Technologies Private Limited. As per the agreement, the e-commerce platform will help in the marketing of products made by the Self-Help Groups under the Deendayal Antyodaya Yojana – National Rural Livelihood Mission.

Rural Development Minister Giriraj Singh informed that when Prime Minister Narendra Modi took charge, there were 2.35 crore SHG members, but with a focused approach to empower rural poor women in the last 9 years, the number of SHG members has expanded to more than 9 crores and will touch 10 crores by 2024.

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Ministry of Rural Development Signed MoU with Meesho – Key Points

• The agreement was signed in the presence of Giriraj Singh as well as the secretary, Rural Development, Shailesh Kumar Singh, Additional Secretary Charanjit Singh, and Meesho co-founder and chief technology officer Sanjeev Barnwal.
• The minister informed that the cumulative loan to SHGs was about Rs 80,000 crore before 2014 and now the bank linkage has crossed over 6.25 lakh crore in the last 9 years, with an NPA of just 2.08 percent.
• The minister noted that each woman beneficiary must save at least Rs 1 lakh per annum through the sale of local products, which is the vision of the prime minister.
• He also expressed confidence that within a few years, he will be able to achieve the target of 10 lacks ‘lakhpati didis’ and added that the day is not far away when “some of the lakhpati didis will become crorepati didi”.
• The minister informed that the rural development ministry has been undertaking several efforts in supporting businesses run by rural SHG women engaged in producing food products, handicrafts, and hand-loom, etc.

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