Empowering Women Entrepreneurs: Modi Unveils Bihar Cooperative

Prime Minister Narendra Modi has virtually launched a new cooperative, the 'Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited', focused on empowering women associated with self-help groups by providing them with access to affordable financial resources. The launch, which took place on Tuesday, aims to nurture entrepreneurship among rural women in Bihar.

Modi also transferred Rs 105 crore into the cooperative's bank account, marking the start of a significant financial initiative. Bihar Chief Minister Nitish Kumar, along with other state leaders and officials, participated in the event from Patna, underlining the joint effort between state and central governments.

This cooperative is designed to ease the dependence of women entrepreneurs on traditional microfinance institutions that levy high-interest rates, often between 18 to 24 percent. By operating on a fully digital platform, the initiative ensures faster, transparent fund transfers and is expected to bolster community-led enterprises and entrepreneurship in rural areas.

(With inputs from agencies.)