Civic body surpasses target in providing bank linkages to SHGs; achieves 110 per cent result
The Greater Hyderabad Muncipal Corporation (GHMC) has provided bank linkages of Rs 272.94 crore to as many as 8,824 Self Help Groups (SHGs) in Hyderabad during 2016-17 against the proposed target of R
HYDERABAD: The Greater Hyderabad Muncipal Corporation (GHMC) has provided bank linkages of Rs 272.94 crore to as many as 8,824 Self Help Groups (SHGs) in Hyderabad during 2016-17 against the proposed target of Rs 242.28 crore to about 11,624 SHGs. GHMC has exceeded the target and achieved 110 per cent result in extending the bank linkages.
As many as 10 to 12 urban poor women hailing from poor socio-economic background are facilitated to form into a SHG. Around 2,118 SHGs were formed during 2016-17 and total 42,925 SHGs are functioning in GHMC. The new SHGs have been facilitated to access their credit needs from nationalised banks after attaining seniority of six months.
The annual credit plan under Bank Linkage to SHGs for the year 2016-17 was prepared circle-wise for an amount of Rs 248.28 crore to 11,624 SHGs as target and the achievement till March 31 was Rs 272.94 crore to 8,824 SHGs (110 per cent).
The annual credit plan to Secunderabad Circle under bank linkage to SHGs for the year 2016-17 was prepared for Rs 8.45 crore to 472 SHGs as target and the achievement was Rs 17.82 crore to 809 SHGs (211 per cent).
Quthbullapur circle obtained highest amount of bank linkages i.e Rs 40.67 crore to 935 SHGs which stood at 137 per cent during 2016-17.
In LB Nagar Circle, bank linkage during last three years - from 2014 to 2017 - has been prepared for an amount of Rs 55.53 crore to 3,198 SHGs as target, and the achievement was Rs 97.17 crore for 3,602 SHGs which is 175 per cent against target.
In regard to Slum Level Federations (SLFs), Hyderabad Markandiya SLF Charminar-4C circle received highest amount of bank linkage - Rs 1.80 crore.
The credit access availed by SHG members will be utilised for consumption needs, education of their children, health needs and meeting other expenses.
The banks which extended the linkages include Indian Bank, Ameerpet (Rs 7I.45 crores to 1,681 SHGs) followed by Canara Bank, Narayanaguda (micro-finance) with an amount of Rs 57.50 crore to 2,199 SHGs. The Banks are relying on SHG lending because the repayment is almost 98 per cent in GHMC area.