Transforming Rural Women into Financial Powerhouses

Sweeping reforms in rural financial services are crucial to support women entrepreneurs, aiming to transform 3 crore rural women into "lakhpati didis" over the next 2-3 years. Senior official Smriti Sharan highlights the need for diversified entrepreneurship, improved access to loans, and market linkages for Self-Help Groups.

Sweeping changes in rural financial services and geography-specific banking products are urgently needed to empower women entrepreneurs, according to Smriti Sharan, a senior official from the Rural Development Ministry. She emphasized the necessity of reform during a panel discussion at the Grameen Bharat Mahotsav 2025 event.

The government's ambitious plan is to turn 3 crore rural women into 'lakhpati didis' within 2-3 years, requiring a shift from traditional agriculture to entrepreneurial ventures. Despite a low non-performing asset rate of 1.64% among Self-Help Groups, challenges persist in accessing loans, skills training, and market connections.

Highlighting the success of the Pradhan Mantri Jan Dhan Yojana, which boasts more than half of its accounts held by women, Sharan called for joint initiatives to enhance rural women's financial inclusion. She suggested customized financial products, simplified loan processes, and better policy implementation to address these issues effectively.

(With inputs from agencies.)