The Hindu : Karnataka News : SHGs told to use savings for income generation

Online edition of India's National Newspaper
Monday, Jan 03, 2005

Karnataka

Karnataka - Others

SHGs told to use savings for income generation

By Our Staff Correspondent

DAVANGERE, JAN. 2. M.N. Narayanaswamy, Chief Executive Officer of the Davangere Zilla Panchayat, has urged women's self-help groups (SHGs) to use their savings to promote economic activities rather than using it to generate interest. This will not only help generate more income but also make the women more creative and enterprising, he said.

Inaugurating a conference of self-help groups here today, Mr. Narayanaswamy said that as many as 4,500 self-help groups in Davnagere had saved Rs. 9 crores. Saving such a large sum of money during the drought in the past three years was appreciable, he said. A trade fair was being organised under the banner "Saras" in 14 States in the country and members of women's self-help groups will be given an opportunity to sell their products at these fairs, Mr. Narayanaswamy said. Self-help groups had made women more enterprising and helped them generate some income for themselves, he said.

M.S. Jayaswamy, Deputy Director of the Department of Women and Child Development, called upon women to produce good quality products and sell them in the market. He appreciated the efforts of nationalised banks in supporting self-help groups.

P. Vishwanath, manager of the Lead bank, said that many banks that were reluctant to give loans sometime back were coming forward to offer even large loans. B.N. Mallesh, a journalist spoke on the occasion.

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