The Hindu : Karnataka News : RBI rejects plea to convert Stree Shakti groups into bank

Online edition of India's National Newspaper
Friday, Oct 29, 2004

Karnataka

Karnataka

RBI rejects plea to convert Stree Shakti groups into bank

By Our Staff Reporter

BANGALORE, OCT. 28. The Reserve Bank of India (RBI) has declined to approve a proposal of the State Government to convert the Stree Shakti groups, aimed at improving the economic status of women, particularly those belonging to the weaker sections, into a mahila bank.

According to sources in the Department of Women and Child Development, the RBI had expressed its inability to entertain the proposal in reply to the State's plea. The RBI had told the Government that there should be a minimum deposit of at least Rs. 500 crores to start a bank, which the Stree Shakti groups did not have. The sources said that they had a total deposit of only Rs. 204 crores. The RBI's policy was not to encourage the opening of new banks. The State Government had sought the conversion of the groups into a bank to intensify development activities involving women.

Review meeting

Meanwhile, a meeting to review the programmes meant for the development of women was held here recently. The Additional Chief Secretary, V.K. Gore, chaired the meeting. The Department Secretary, Gurucharan; the Director of Women and Child Development, Gonal Bheemappa; and the Managing Director of the Karnataka State Scheduled Caste and Scheduled Tribes Development Corporation, Baburao Mudabi, were present.

The sources said that Mr. Gore expressed his displeasure over the tardy implementation of the programmes in some departments such as Sericulture, Fisheries, Animal Husbandry and the Minority Development Corporation.

Their performance was in the range of 8 per cent, 7 per cent, 6 per cent and 1 per cent respectively in the last quarter. He reportedly warned that he would view it seriously if they did not improve their performance in the next three months. The next review meeting would be held in December.

But the sources said that the performance of the some other departments was far better. In the case of Commerce and Industry, it was 44 per cent, Textiles and Handloom 72 per cent, Youth Affairs and Sports 45 per cent and Disabled Welfare 49 per cent.

Reports pending

The departments of Education, Backward Classes, Social Welfare and Forest had not submitted their reports. Most departments, which could not speak of any appreciable progress because of the sowing operations, had expressed confidence that they would achieve 100 per cent result by March next year, the sources said.

In all, 120 schemes were under implementation in the State in the Central and district sectors accounting for Rs. 742 crores out of Rs. 1,514 crores for all sections of the people, the break up of which was district sector: 76, Central: 39 and World Bank and Danida: five schemes.

Meanwhile, the Department of Women and Child Development is considering allotting fair price shops to the Stree Shakti groups, but the sources said that no applications had been invited from them so far.

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