Micro finance project for women launched | delhi | Hindustan Times
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Micro finance project for women launched

delhi Updated: Oct 07, 2011 23:23 IST
Press Trust of India

Delhi chief minister Sheila Dikshit on Friday launched a micro-finance project which aims at providing financial support to over one lakh "vulnerable" women in the city through a cooperative model, over five years.

The project will be implemented by the Samajik Suvidha Sangam (SSS), a Delhi government entity set up to provide various services to the poor, in collaboration with Delhi chapter of SEWA.

Under the project, women from economically-weak sections will be given access to funds and other financial services through a cooperative society called Mahila Sewa Urban Cooperative Thrift and Credit Society Ltd.

"The project aims to ensure financial inclusion of about one lakh vulnerable women in Delhi over a period of five years," Dikshit said launching the project at a function in Nand Nagri area of north Delhi.

Officials said loans will be provided to women at a nominal interest rate of 1.5%.

Dikshit said the cooperative movement has proved to be the bedrock of development in India.