Jammu Nov 23: To provide micro-credit facilities to the women, Jammu and Kashmir State will soon establish a Women Cooperative Bank, for which the state has already secured clearance from the Reserve Bank of India (RBI).
 Officials said the micro credit facility, first of its kind in the state, will target the women, particularly in violence hit districts, where they will be encouraged to get the  benefit of small loans .
 Sources said the modalities for establishing the proposed bank has already been completed which also envisage opening of its branches across the state.
 Minister of State for Cooperative Manohar Lal Sharma said that government was keen to get the proposal through as it was the only way to realize the objective of women empowerment in the state.
 “ Women who want to start  small business in rural areas don’t get credit facilities as they are not able to complete cumbersome formalities for securing loans from the banks-establishment of women bank will go a long way in promoting such ventures,” said Sharma.
 He said that though much success has not been achieved by the Cooperative movement in the state, but steps are being taken to streamline it. “We are making plans to bring more and more people under the ambit of the primary cooperative societies,” he said.  “If the women specific bank is established in the state, it could benefit many poor women, but government has to ensure that necessary infrastructure and management is created, otherwise it will also meet the   fate of the cooperative societies,” said Suman Kapil, who runs an NGO in Jammu.
 She said that Co-operative Banking activities should be extended to Panchayat level to enable the people in rural areas to avail banking facilities at their doorsteps.
 “A strong pro-poor management is needed as many of the people still don’t know what the banks are and what benefits they can avail from it”, Suman pointed out .
 As per the government figures, the deposits of State Cooperative Bank have  touched Rs 921 Crore , where as the advances of the Bank are Rs 321 crore.
 The cooperative Banks across the state have sanctioned loans worth Rs 23.25 crore to 21587 Kisan Credit Card holders during the last financial year.

Lastupdate on : Tue, 23 Nov 2010 21:30:00 Makkah time
Lastupdate on : Tue, 23 Nov 2010 18:30:00 GMT
Lastupdate on : Wed, 24 Nov 2010 00:00:00 IST