The Department of Economics & Banking in collaboration with NABARD organized an Informative session for students and entrepreneurs from the public on the topic ‘Initiatives by SHGs through NABARD’ on 27th August 2019 from 10:30 a.m. to 12:30 p.m. in classroom no. 203. The objective of the session was to bring about awareness among students and the general public on how to form a SHG and the initiatives offered by NABARD to SHGs. The resource person for the session was Mr. Sushil L. Naik – District Development Manager, NABARD, Goa.
NABARD through long term refinance has disbursed to banks in Goa an aggregate of Rs.65.83 Crore in 2018-19. As on March 31, 2019, it has cumulatively sanctioned 201 projects in the field of agriculture, rural connectivity and social sectors involving a financial assistance of Rs.1867 Crore to the Government of Goa. Against this, the assistance disbursed is Rs.1205 crore. Under NIDA (NABARD Infrastructure Development Assistance), NABARD has sanctioned 02 projects – Construction of 3rdMandovi Bridge and Porvorim Sewerage Scheme. The total loan assistance sanctioned is Rs.533.29 crore. Besides this NABARD also promotes farm sector initiatives through the constitution of Regional Advisory Group (RAG), it is the Nodal Agency for Government of India schemes and provides awareness and training programmes for farmers as well. Development in the off-farm sector includes sponsoring of stalls in exhibitions for Self Help Groups (SHGs), support to conduct of SHGs Lokotsav, Bazars, etc., and conduct of training and capacity building programmes for SHGs in Goa. NABARD has provided grant of Rs.16.26 lakh to Goa State Cooperative Banks for issuing RuPay KCCs and micro ATMs in Goa. NABARD has implemented a project of digitization of SHGs (EShakti), introduced schemes for promotion of women SHGs, as well as supported various marketing initiatives of SHGs.
The session commenced at 10:30 a.m. with the welcome address delivered by Ms. Lizette D’Costa, Assistant Professor in Economics and Coordinator of the session, who gave a brief introduction of National Bank for Agriculture and Rural Development (NABARD) being India’s Apex Development Financial Institution, formed by an Act of Parliament in 1982 with a mandate of bringing rural development through credit and non-credit initiatives. NABARD being wholly owned by Government of India has its regional offices in all the state capitals of India, District Development Manager (DDM) offices across length and breadth of the country. In Goa, the regional office of NABARD is located at Panaji whle the DDM Office is located in Margao, South Goa District. As a welcome gesture, Vice Principal, Dr. Rodney D’Silva presented the resource person with a potted plant, which was followed by the Welcome address by the Head of the Department of Economics & Banking, Dr. Lira M. Gama, on the importance and need of such a session.
The resource person, Mr. Sushil Naik, very skillfully introduced the topic of SHGs to the audience. He initially informed them about NABARD in Goa and its various functions and its role, which is financial, developmental and supervisory in nature. He subsequently went on to explain how to form a Self Help Group (SHG), the basic requirements and eligibility, SHG linkage with nationalized banks and the way NABARD assists in starting of SHGs. He enlightened the audience on SHG – Panchasutras i.e. Regular Savings, Internal lending, Regular Payments, Maintenance of Books of Accounts and Regular Meetings as the core requirements of the functioning of a SHG. He informed the gathering on the different types of purposes of loans, possible loan amount that can be granted, SHG credit linkage, the concessional rates of interest offered to SHGs, documents, collateral, SHG grading, Rural Mart Scheme – the expenditures at block and district levels. He also spoke about different programmes under SHGs providing the various trainings and initiatives especially for women like sea-shell craft, bamboo work, cookery and catering, jute and cloth-bag manufacturing, pickle and masala making, etc., and assistance in putting up stalls for Lokotsavs and bazaars. He mentioned that there are presently more than 6000 SHGs operating in Goa and over 100 lakh all over India. The SHG deposits amounts to 17 Crore in Goa and 23000 Crore in India. Further the SHG outstanding loans account for 45 Crore in Goa and 87000 Crore in the whole of India. The NPAs in SHG lending in Goa is only 4% while all over India is only 7% which speaks a lot about the successful repayments in SHGs. He finally spoke on NABARD’s Project of Digitization of SHGs (EShakti) which is being implemented in Goa.
The students and public present were very interactive as many of them posed questions to the resource person, Mr. Naik, who answered them very proficiently during the session.
On the whole, the session was informative and enriching to the audience.
The session ended at 12:00 p.m. with the vote of thanks delivered by Ms. Lizette D’Costa and a memento being presented to Mr. Sushil L. Naik, as a sign of gratitude for delivering the session.
