J&K Bank conducts orientation workshop on ‘Lal Ded Stree Shakti Loan Scheme’

Srinagar, May 8: Reaffirming its commitment to women empowerment through inclusive financial interventions, J&K Bank today conducted a workshop-cum-orientation programme for officials of Jammu & Kashmir Rural Livelihoods Mission (JKRLM) across the Union Territory. The session was aimed at familiarizing the participants with the recently launched microfinance product – J&K Bank Lal Ded Stree Shakti Loan Scheme – tailored specifically for women members of Self-Help Groups (SHGs).

Held through VC mode, the workshop was jointly chaired by the Bank’s Deputy General Manager (MSME/Agri/GSS), Rakesh Magotra and Mission Director, JKRLM, Dr. Shubra Sharma. J&K Bank’s Assistant General Manager Nuzhat Parveen, Incharge GSS Department Aftab Shalla, and JKRLM’s State Project Manager (Financial Inclusion) Zubair Hassan were among the senior functionaries from both institutions who participated in the session alongside district and block-level officers and field functionaries of JKRLM.

Speaking on the occasion, DGM Rakesh Magotra said, “The Lal Ded Stree Shakti Loan is an individual micro-loan product curated for women associated with SHGs. Designed to encourage income-generating activities, the product allows eligible members to access credit based on group liability – thereby promoting financial independence and entrepreneurship among women in rural and semi-urban areas.”

Presenting the operational and financial contours of the scheme, AGM Nuzhat Parveen gave a detailed PowerPoint presentation highlighting key features of the loan product. “Active women members of SHGs can avail credit ranging from Rs 50,000 to Rs 2.00 lakh under the scheme at a concessional interest rate,” she informed.

The session also featured an interactive Q&A round where queries raised by participants were addressed by Bank officials.

Notably, the Lal Ded Stree Shakti Loan Scheme was launched by the Chief Secretary, J&K Government, on International Women’s Day this year during the 15th Union Territory Level Bankers’ Committee (UTLBC) meeting held in Jammu. Rolled out as part of a strategic partnership between J&K Bank and JKRLM, the scheme is aimed at strengthening women-led SHGs by providing them with accessible and affordable credit for livelihood generation.