Revolving Fund (RF)

Revolving Fund (RF)

 

   In order to be able to meet consumption and initial production needs for enhanced livelihood opportunities, Government of West Bengal has approved Revolving Fund scheme to provide Rs.30,000 each to the women SHGs under LAMPS. The women SHGs in turn would use this as corpus for on-lending to their members. This support is a boost for these women SHGs who were otherwise not having such supports from any other sources. WBTDCC is the implementing agency for this. In order to be eligible to receive this onetime grant of Rs.30,000, the women SHGs of LAMPS,  must fulfil certain conditions such as regular meetings, attendance, regular savings, internal lending without default and well-maintained books / registers, or any other conditions that the authority (i.e. TDD / WBTDCC) would like to enforce. Loans to members may be given for livelihood / productive activities and also consumption/ urgent domestic purposes, but emphasis should be given for disbursement of loan mostly for livelihoods / productive activities. In order to organise disbursement of RF to the eligible WSHGs and also to prepare the staff of LAMPS, WBTDCC has developed a guidelines for providing “Revolving Fund (RF)” to women SHGs promoted by LAMPS. The RF guidelines consist of various aspects such as Eligibility conditions to receive RF by SHGs under LAMPS, Amount of RF, Procedure to be followed for release of RF, Rules & procedures for providing loan to members by SHG from RF, etc.  WBTDCC has in this regards organised training for LAMPS staff namely Supervisors and Sahayikas, who in turn are conducting training to WSHG members. It has created lot of enthusiasms among the tribal groups. The women hope to utilise this fund effectively for their own benefits and some of them will soon approach banks for larger loans to enhance their livelihoods.

Achievement So far:

• 6733 WSHGs under LAMPS have submitted applications to avail this support.