Indian Govt Loan Scheme 2024

A Lakhpati Didi is a Self-Help Group member who has made more than Rupees One Lakh (Rs. 1,00,000) each year and has consistently earned Rupees Ten Thousand (Rs. 10,000) per month on average for at least four business cycles and/or agricultural seasons.

Identify the Potential Lakhpati Didis by putting together a team of Master Trainers and Community Resource Persons Increasing the capacity and offering a variety of stakeholders—SHGs and their federations, community resource people, master trainers, and the personnel and specialists in charge of this project—cascade training Potential Lakhpati Didis will be exposed to a range of livelihood models through exposure visits, capacity building, and training. Additionally, pertinent reference materials will be made available for independent study.
Using a digital tool, making Lakhpati Plans for the families that have been identified, integrating the plans, coming up with product and/or service clusters, value chain interventions, interacting with various stakeholders, government initiatives, partnerships with the corporate sector, etc.
Mapping Community Resource Persons with Identified Didis to Offer Connections and Handholding Support. Aajeevika Register for recording revenue sources

A SHG member who has used the Community Investment Fund (CIF) for at least two years.
A beneficiary of a livelihood intervention funded by the mission who performs at least two livelihood activities.

Equal opportunity would be provided to all social and economic SHG categories in identifying potential Lakhpati Didis. Of them, about 25% may come from individuals earning more than Rs. 1 lakh per year, while the remaining 75% may come from people earning less than Rs. 1 lakh per year. This is based on a study conducted in 2022. These guidelines are only recommendations. States and Union Territories may also create suitable criteria to identify potential Lakhpati Didis.

Senior specialists having at least five years of experience in a range of fields, such as enterprise promotion, livestock development, value chain management, horticulture, and aquaculture.
Possess a proven track record of leading training sessions on improving livelihood.
Current resource persons (from the state, district, or block) who have been trained in initiatives like the One Stop Facility (OSF), Integrated Farming Clusters (IFC), Producer Groups/Enterprises (PG/PE), Start-up Village Entrepreneurship Programme (SVEP), and Financial Inclusion (FI) are at the states’ disposal to use or incorporate.

The chosen Master Trainers will provide the Lakhpati Didi training to the Community Resource Persons.

The Community Resource Persons are the Ministry’s extended hands and feet on the ground during the development of the Lakhpati didi Livelihood Plan. A two-day intensive training program will be provided to the Community Resource Persons, covering the knowledge and abilities necessary for them to carry out their roles.

An introduction to the Lakhpati Didi idea
Lakhpati Didi Opportunities for Employment
The components of a plan for livelihood
The Livelihood Planning Process and the Digital Tool
Livelihood Models and the Role of Community Resource Persons in Helping with Potential Lakhpati Didis Resource Provisions
The Digital Register of Aajeevika

You can download the training module from the website, along with the session plan, presentations and resource materials, reference documents, videos, and more.

It consists of Community Resource Person Training, Master Trainer Training, and Training of Trainers of Resource Persons (ToT).

The four basic strategies for empowering Lakhpati Didis and giving Self Help Group households a means of subsistence are as follows:

Strategy 1: In Self-Help Groups, Strengthen, Expand, and Improve Members’ Livelihoods

Strategy 2: Execution by giving households prompt and adequate support in the areas of assets, skills, finance, and market

Strategy 3: Internal and interdepartmental convergence as well as cooperation with specialized institutions and groups

Approach 4: Enhancing the competencies and proficiencies of all stakeholders.

In favor of Capitalization:

Revolving Fund: Each eligible SHG would receive between Rs. 20,000 and Rs. 30,000 to enable them meet members’ immediate credit needs and promote internal lending.
Fund for Community Investment (CIF): The only recipients of financing from this source are Self-Help Groups (SHGs) and its federations. It is employed to provide members with advances on loans so they can participate in socioeconomic activities in line with investment and microcredit strategies. The Community Investment Fund would only allow up to Rs. 2.50 lakh per SHG.

Bank Transfer Bank loans without collateral up to Rs. 20 lakh for Self-Help Groups.
Interest Subvention: Women’s self-help groups would receive interest subvention up to Rs. 3,00,000 to bridge the credit gap between the banks’ lending rate and 7% on all bank and financial institution credit.

Producer groupings (PGs), which are small groupings, participate in focused marketing efforts that target local supply and demand issues. Their main objective in implementing economies of aggregation is to reduce the cost of individual transactions. Their target markets are also usually local, ranging within a limited radius. Producer Groups can better negotiate prices and realize greater prices since they can pool the commodities at the village level and sell them all at once in the market. The Mission is providing each PG with Rs. 2 Lakh to sustain their business, which includes cash for infrastructure and operating capital. A Lakhpati Didi can join the Producer group to pool resources or the federation at a higher level.

The Start Up Village Entrepreneurship Programme (SVEP) aims to reduce poverty and unemployment in the villages by supporting the establishment and maintenance of rural companies. Block Resource Centers (BRCs) are located in every intervention block, and Community Resource Persons-Enterprise Promotion (CRP-EP) are assigned to each block to assist entrepreneurs in obtaining bank financing, obtaining startup capital, and providing ongoing assistance as their business grows. A Lakhpati Didi can get help from the CRP-EP to expand her company or enterprise.

One Stop Facility (OSF) is a block-level business incubator and facilitator that offers business development services to existing nanoenterprises on a growth track. Every block that is authorized for support under the OSF will help at least 150 businesses during the campaign. For individual firms, the financing scale is Rs. 2.5 lakh; for groups of businesses with a 10% entrepreneur participation, it is Rs. 5 lakh. Four sources of funding will be used to finance these businesses: loans from formal financial institutions, bank credits that are still available to SHGs, CIF, and CEF.

Micro Enterprise Development (MED): Supporting Self-Help Groups (SHGs) and family-owned non-farm companies is the aim of the MED initiative. The goal of this program is to provide post-enterprise grounding support and the critical one-on-one assistance that entrepreneurs need. The program’s funding will come from CIF under the NRLM, banks, and other financial organizations. Financial Inclusion teams in State Rural Livelihood Missions (SRLMs) at the State level must actively participate in and support this process in order to link the selected MED entrepreneurs with banks and other financial institutions.

Sectoral clusters (food service, tourism, nutrition, etc.) and artisan clusters (handloom and handicrafts) are the two types of clusters that are supported under DAY-NRLM. Common Facility Centers (CFCs) and Common Production Centers (CPCs) are two examples of hard and soft interventions that the initiative supports. Other initiatives include design development, quality assurance, enterprise creation, market development, financing, technology upgrades, skill development, and the promotion of responsible business interventions. It is conceivable for each cluster to involve a minimum of 100 micro enterprises over the intervention period.

For the objective of developing and operationalizing clusters, Rs. 5 crore has been put aside per cluster. Technical Support Agencies (TSAs) and RLMs can work together to integrate their services with ongoing government initiatives like the Scheme of Fund for Regeneration of Traditional Industries (SFURTI).