4-Feb-2022: Rashtriya Mahila Kosh

Rastriya Mahila Kosh (RMK) was established by the government of India in 1993 as a national-level organisation under the Ministry of Women and Child Development as a society under the Society Registration Act, 1860, to bring about the socio-economic upliftment of poor women. RMK provides micro-finance services to the needy and poor women in the informal sector through a client friendly, without collateral security and third party guarantee. The loans are granted for Income Generating Activities (IGA), housing, micro-enterprises, family needs, etc. Funds were disbursed by RMK till 31.03.2020. Details of funds allocated, sanctioned/ utilised during the year 2018-19 and 2019-20, State / UT-wise are at Annexure-I. District-wise data is not maintained by RMK.

As on 31st March, 2020, amount allocated to the State of West Bengal was Rs 2,746.29 lakh. Out of this, Rs 2,292.79 lakh was disbursed to Intermediary Micro-financing Organisations (IMOs) of which Rs 453.50 lakh remained unutilized/ undisbursed.

For effective implementation, credit is provided to the poor women beneficiaries through Intermediary Micro-financing Organisations (IMOs) working at grass-root level such as NGOs, Women Federations, Co-operatives, not for profit companies registered under Section 25 of the Companies Act and other Voluntary/ Civil society organisations, etc. by following a client friendly, simple, without collateral loan required for livelihood and income generation activities, housing, micro-enterprises, etc. RMK has also taken a number of promotional measures to popularise the concept of women empowerment by way of micro-financing, thrift and credit, capacity building and marketing linkages through Self Help Groups (SHGs) format and also enterprise development for poor women. Since inception, Rs 31,513 lakh has been disbursed by RMK to 1728 IMOs which has benefited 7,41,163 women.

In the present scenario, when there are substantial alternative credit facilities available to women through various initiatives of the government, RMK has lost its relevance and utility. Hence, in order to avoid duplication of efforts and wastage of financial resources, it has been decided to be closed down RMK.

5-Aug-2021: Setting UP of Rashtriya Mahila Kosh

The Government had set up Rashtriya Mahila Kosh (RMK). It was established in 1993 as a national level autonomous body for socio-economic empowerment of women, especially those in the rural and unorganized sector, by providing them concessional, collateral free micro-credit. The operating model followed by RMK has been of extending loans to Intermediary Micro-Finance Organizations (IMOs) which further on lend for entrepreneurial activities of women.

However, as per recommendations in the report on ‘Rationalisation of Government Bodies’, prepared by the Principal Economic Adviser to the Government of India in November, 2020, the Government has decided to close down RMK as it has lost its relevance and utility in the present scenario with substantial alternative credit facilities becoming available to women through various governmental initiatives and efforts such as Jan Dhan Yojana, PM Mudra Yojana etc. and also to avoid duplicacy of efforts.

The detailed objectives for setting up the Rashtriya Mahila Kosh (RMK) have been

1. To promote or undertake activities for the promotion of or to provide credit as an instrument of socio-economic change and development through the provision of a package of financial and social development services for the development of women.
2. To promote and support schemes for improvement of facilities for credit for women :
   1. for sustenance of their existing employment,
   2. for generation of further employment,
   3. for asset creation,
   4. for asset redemption and
   5. for tiding over consumption, social and contingent needs;
3. To demonstrate and replicate participatory approaches in the organization of women’s groups for effective utilization of credit resources leading to self-reliance;
4. To promote and support experiments in the voluntary and formal sector using innovative methodologies to reach poor women with credit and other social services;
5. To sensitize existing government delivery mechanisms and increase the visibility of poor women as a vital clientele with the conventional institutions;
6. To promote research, study, documentation and analysis, including provision of fellowships and scholarships, of credit and its management and of successful experiences at various levels in order to promote replication and dissemination of successful credit extension and management methodologies;
7. To promote the federation and networking of women’s organisations for shaping & exchange of experience and information and to develop skills in response management & social mobilization;
8. To promote and support the expansion of entrepreneurship skills among women;
9. To cooperate with and secure the cooperation of the Central Government, State Governments and Union Territory Administration, credit institutions, industrial and commercial organisations and non-government, voluntary and other organisations and bodies in promoting the objects of the Kosh;
10. To accept subscriptions, grants, contributions, donations, loans, guarantees, gifts, bequests etc. on such terms and obligations not inconsistent with the aims and objects of the Kosh; and
11. To do all such lawful acts and things as may be necessary or conductive for furthering the objects of the Kosh.
12. There shall be no discrimination on the ground of religion, community, caste or class, creed or race in carrying out the aims and objects of the Kosh.
13. All the incomes, earnings, movable, immovable properties of the Kosh shall be solely utilised and applied towards the promotion of its aims and objects only as set forth in the Memorandum of Association and no part of income and property of the Kosh shall be paid or transferred directly or indirectly by way of dividends, bonus, profits or in any manner whatsoever to a present or past Member of the Kosh or to any person claiming through any one or more of the present or past members. No member of the Kosh shall have any personal claim on any movable or immovable properties of the Kosh or make any profits, whatsoever by virtue of his membership. The accounts of the Kosh shall be audited and balanced each year. Provided, however, nothing herein contained shall prevent the payment, in good faith, of remuneration to any member or other person in return for any services rendered to the Kosh or for travelling allowances, halting or other similar charges.

Further, the details of the loan schemes being implemented in the States/UTs under RMK are as under:

1. Loan promotion scheme
2. Main Loan Scheme
3. Gold Credit Scheme
4. Housing Loan Scheme
5. Working Capital Term Loan

RMK extends concessional micro-finance loans to poor women through IMOs for livelihood activities, housing, micro-enterprises and family needs to bring about socio-economic upliftment of the women.

RMK had revised its loan guidelines in the financial Year 2017-2018.

RMK undertook advertisement drive for inviting proposals from Intermediary Micro-financing Organisations across the country in 2018. Further, RMK made Video Spots and Radio Jingles through NFDC and disseminating the same through various social media channels for popularising its Loan schemes.