In a major development, Prime Minister Narendra Modi on Tuesday inaugurated the Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited through video conferencing.
Bihar Chief Minister Nitish Kumar, Deputy CM Samrat Choudhary, and other officials were present during the event.
As part of the inauguration, PM Modi also transferred Rs 105 crore to the bank account of the institution.
Earlier, in a post on X, PM Modi explained that the main aim of the Jeevika Nidhi scheme is to ensure that women in Bihar have access to opportunities and support for their development.
“We are leaving no stone unturned to ensure that the mothers, sisters, and daughters of our Bihar do not lack any opportunities. In this regard, today, around 12:30 PM, I will inaugurate a major initiative for rural women entrepreneurs through video conferencing,” he wrote.
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According to a press release from the Prime Minister’s Office (PMO), the Jeevika Nidhi has been established to provide easy access to funds at affordable interest rates for members associated with Jeevika. All registered cluster-level federations under Jeevika will become members of the cooperative society, with financial support coming from both the Bihar state government and the Central Government.
Women associated with Jeevika’s self-help groups have built several small enterprises and producer companies in rural areas over the years. However, they often had to rely on microfinance institutions that charge high interest rates ranging from 18 to 24 percent.
According to ANI, the Jeevika Nidhi has been designed as an alternative financial system to reduce this dependence, provide larger loans, and ensure timely fund availability at lower interest rates.
The system will operate entirely on a digital platform, allowing faster and more transparent fund transfers directly into the bank accounts of Jeevika Didis. To support this digital system, around 12,000 community cadres are being provided with tablets.
As per reports, the initiative will promote entrepreneurship among rural women and accelerate the growth of community-led enterprises in Bihar.
