'Umed', a mission to financially empower rural Maharashtrians achieves new heights

Amravati: Maharashtra Government's Umed-Maharashtra state rural livelihood mission has been at the forefront to bring deprived groups into the mainstream and curb the exploitation of private lenders. In the past five years, a total of 19,200 Self Help Groups have been established in the district under the scheme. Under the Union Government's Lakhpati Didi program, a total of 8.50 crores of bank financial aid has been provided to these groups. Additionally, 682 groups have availed circulated funds of 2,04,60,000 and 4 crore 26 lakh worth collective investment fund. 

In addition to the circulating funds and group investment funds, these SHGs also receive financial aid with minimum interest by National Banks. Various micro-finance companies and private lenders in the district were giving loans at exorbitant interest rates and exploiting women from SHGs and poor families. 

Umed mission has brought these groups together and ensured that they do not undergo financial exploitation. To meet their needs, nationalized banks provide loans worth 1/5-3 lakhs at a mere rate of 7%. The mission aims at financial literacy and raising awareness about low-interest loans and related investment issues among women while aiding them financially in businesses. 

An organization of 1 lakh 90 thousand women 
Self-Help Groups in the district: 19 thousand 200
Village level groups: 1059
Ward-level groups: 59
Loan granted under Umed between 2019-December 2023: 641 crore
Circulating fund: 27 crores, 25 lakhs, and 57 thousand 
Group investment fund: 13 crore, 76 lakh and 98 thousand 

Priti Deshmukh, District Rural Development Department's project director also stated that in the 2023-24 financial year, nationalized banks have granted loans worth 218.71 crore to around 8573 groups.