Bihar Launches State's First Women-Led Credit Cooperative 'Jeevika Nidhi' Serving Over 1 Crore Rural Women

In a historic initiative towards giving new heights to women empowerment and community finance system in Bihar, “Bihar Rajya Jeevika Nidhi Credit Cooperative Limited, Patna” was formally registered. It is a state level women-led credit cooperative institution promoted by Jeevika. The objective of this institution is to provide easy, timely and structured credit facility to the rural women of the state so that they can pursue their business, agriculture and self-employment activities with self-reliance.

On this occasion, Secretary of Cooperative Department, Government of Bihar, Mr. Dharmendra Singh and Registrar Inayat Khan jointly handed over the registration certificate of “Bihar Rajya Jeevika Nidhi Credit Cooperative Limited” to the Chief Executive Officer of Jeevika, Mr. Himanshu Sharma. This moment was proud not only for Jeevika, but also for more than one crore women members of the state.

Establishment of a financial institution for collective benefit under women leadership

Bihar Rajya Jeevika Nidhi Credit Cooperative Limited has joined the list of institutions which are completely run and controlled by women participation. The formation of this cooperative institution has been based on years of ground work, institutional structure development, financial literacy creation and strong foundation of community awareness.

Cluster level federations (CLF) of the state have contributed in the form of long term deposits. In addition, financial assistance has also been provided by the Government of Bihar to this institution, so that it can become a self-reliant and strong institution.

Transparency, simplicity and timeliness in the loan system

The objective of Jeevika Nidhi is not only to give loans, but to create a system which works keeping in mind the needs of women users, their work cycle, timeliness of loan and local economic scenario. Through this institution, rural women will be able to get loans easily, so that they can avoid the high interest rates of local money lenders.

The formation of “Bihar Rajya Jeevika Nidhi Credit Cooperative Limited” makes it clear that now the rural women of Bihar are not just recipients of financial assistance, but they have become the main axis of the structure, operation and policy making of financial institutions. This institution will not only help them in meeting their immediate credit needs, but will also pave the way for long-term economic self-reliance and prosperity.

This initiative can become a model in the coming years, which will show how community-based, women-led financial systems can change the socio-economic landscape of rural India.