New Delhi, Mar 8 (PTI) Rural Development Minister Giriraj Singh on Tuesday praised women self-help groups (SHGs) for honestly repaying loans and asserting that their NPA was about 2.5 per cent which is a lesson for loan defaulters.

Speaking at an event to celebrate the entrepreneurial spirit of rural women on International Women's Day, Singh said the government's aim is to ensure that the maximum members of women SHGs earn Rs 1 lakh per annum soon.

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Hailing Prime Minister Narendra Modi for expanding the network of women SHGs, Singh said, “After Modi government came to power in 2014, women SHGs expanded exponentially and today eight crore sisters are its members and several of them are earning Rs 1 lakh per annum."

Rural women with their entrepreneurial spirit are emerging as ‘naye bharat ki nari' (new women of new India) and crafting an ‘Atma Nirbhar Bharat' by strengthening rural India, Singh said.

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“Our focus is on increasing the contribution of women in the country's GDP through various interventions and we aspire to make 10 lakh women members of various SHGs earn Rs 1 lakh per annum," he said.

Describing timely repayment of loans by women SHGs as "inspiring", Singh said, "The women SHGs have non-performing assets (NPAs) of about 2.5 per cent. The timely repayment of loans by our sisters is inspirational for all especially loan defaulters."

Under the National Rural Livelihoods Mission (DAY-NRLM), a flagship programme of the Union Ministry of Rural Development, the government aims to bring one woman from every rural poor household under the fold of a SHG network and ensure their financial inclusion and sustained livelihood support for coming out of abject poverty, Joint Secretary in the Rural Development Ministry Nita Kejriwal said.

Till date, eight crore rural women have been brought under 74.43 lakh SHGs and they can avail an initial loan of Rs 1 lakh. They are also entitled to interest subvention depending upon the district.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)