TNCDW helps women self help groups procure loans for 317 projects

CHENNAI: The Tamil Nadu Corporation for Development of Women (TNCDW) under the urban livelihood movement has so far created 1,415 area-level federations and sought loans from the bank for 317 projects.

TNCDW operating under the Rural Development and Panchayat Raj Department has been keen on aiding women of SHGs in Tamil Nadu.

The motive of TNCDW is to create community-based organisations among the urban poor to reduce poverty and improve the socio-economic status of women and their families. Further formation of SHGs has so far increased the number of entrepreneurs and devised a business plan for themselves, stated the notification.

Further, TNCDW has helped women hone business-related skills, thereby significantly improving and stabilising their livelihoods.

The 1,415 area-level federations formed have anywhere between 10 to 20 SHGs in each of the regional and ward-level groups.

"As an organisation for people from economically weaker backgrounds, each regional level federation acts as a guide for providing immediate loans at reasonable rates of interest, monitoring the economic activities of self-help groups and the activities of self-help groups. It also guides the groups that are members of the federation to avail the benefits of various government schemes and grant assistance, "the notification added.

And, through the formation of the federation, so far 1,415 area-level federations have been provided with a revolving fund of Rs 7.07 crore.