State to impart financial literacy lessons to 'Majhi Ladaki Bahin Yojana' beneficiaries

Women who receive INR 1500 under the Chief Minister Majhi Ladki Bahin Yojana, will be taught financial literacy. The state government has planned to educate women on the usage of the money received as part of the yojana. For this, an action plan is being prepared by the Women Development Department. The government has decided to give a boost to this women empowerment as some women came together to start a small business in Nagpur. 

Prepare an action plan

A group of village women are collecting INR 50-100 monthly, raising INR 50,000 to 1 lakh through a Bhisi to support a woman’s business. Due to this scheme, the women have also started to become professionals. The Women's Development Department is going to teach these women about financial planning both in the villages and in the urban areas.

In financial literacy training for women, topics like a budget of INR 1,500, loans, savings, and investments will be taught. While one sister’s contribution may not be enough to establish a business, a chain of businesses can be created when many sisters come together. The Women’s Development Department is working towards this goal with the support of the Maharashtra Women’s Economic Development Corporation.

Also Read: HC Overturns Software Restrictions on Section 87A Rebate; Taxpayer Rights Restored

This corporation is working for financial planning and business growth of lakhs of self-help groups in the state. Interestingly, the recovery rate of the corporation is 100 percent due to timely repayment of loans taken by the women of this corporation. The women will be provided loans from this corporation. The monthly installments of this loan amount will be entitled to the board from the benefits of the scheme.

 

Apart from this, the women development department will check whether some amount from 1,500 rupees can be invested in a new investment scheme like SIP (Systematic Investment Plan) of mutual funds, said a senior official.