State government to bring Self-Help Groups under insurance coverage
The state co-operation department is all set to bring Self Help Groups under insurance coverage to ensure their financial security in case there is any untoward incident. Different steps were taken on the inspiration of Chief Minister Mamata Banerjee to promote the work of the Self Help Groups in Bengal.
Interestingly, 95 per cent of the loan which was given to the Self Help Groups has been recovered in the last financial year. There are around 1.95 lakh Self Help Groups registered with the state co-operation department. If everything goes as planned, the task of the bringing them under the security coverage will be done in the current fiscal.
With the Chief Minister’s initiative to introduce Biswa Bangla brand to promote the goods manufactured by the small scale enterprises and Self Help Groups in the state, the business of the groups have sustained growth in the past five years.
Unlike the erstwhile Left Front government that had just set up some stalls in government offices and complexes to promote the produce of the Self Help Groups, Mamata Banerjee government had taken major steps for promotion of the same not only in the local market but in other states and abroad.