Stree Nidhi credit cooperative federation approves ₹2,520 crore annual credit plan 

Stree Nidhi approves ₹2,520 crore annual credit plan, prioritizing rural and urban SHGs, SC, ST, disabled members, and livelihood activities.

The general body of Stree Nidhi Credit Cooperative Federation Limited has approved an annual credit plan of ₹2,520 crore for the financial year 2024-25. The plan allocates ₹ 1,948 crore to rural self-help groups (SHGs) and ₹ 572 crore to urban SHGs. Additionally, ₹781 crore have been earmarked for members belonging to SC, ST, and disabled communities, along with ₹ 210.55 crore designated for livelihood activities such as dairy farming, poultry, and solar power projects. 

Presiding over the 11th General Body meeting on Wednesday, Panchayat Raj and Rural Development Minister Danasari Anasuya (Seethakka), highlighted the need to protect community members from the burden of loans from private lenders and microfinance institutions. She also announced plans to allocate site for establishing an office for the Stree Nidhi.  

Secretary, PR and RD, D.S. Lokesh Kumar emphasised the importance of strengthening the SHGs. CEO of the Society for Elimination of Rural Poverty (SERP) D. Divya expressed optimism about expanding the membership to one crore. 

Managing Director of Stree Nidhi, G. Vidyasagar Reddy underscored the need for associations and federations to take on a more proactive role in the organisation’s development and economic growth.  “In the financial year 2022-23, Stree Nidhi reported a net profit of ₹135 crore and distributed a 14% dividend to Mandal and Town Federations as well as the State government,” he said. 

Over 600 presidents of Mandal and Town Federations across the State focused on the financial services offered by Stree Nidhi. The meeting also discussed the new initiatives including the Indira Mahindra Shakti Policy.