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Plan to set up new financial institution

JAIPUR: The Centre for Community Economics and Development Consultants’ Society (CECOEDECON) here has decided to establish a non-banking financial institution for looking after its micro-finance activities largely benefiting rural artisans, craftspersons and agriculturists.

CECOEDECON Secretary Sharad Joshi said at a function marking the silver jubilee of the institution at Sheel Ki Dungari village near here on Tuesday that the micro-finance started three years ago with Rs.5,000 had now touched a whopping Rs.1.5 crore and needed a proper orientation for extension of its benefits to the targeted groups.

A large number of beneficiaries of micro-finance live in Phagi and Chaksu areas, where a regional office of CECOEDECON is functioning. Mr. Joshi said the new financial institution would especially try to help out women by offering micro-credit to their self-help groups.

State Principal Rural Development Secretary Rajendra Bhanawat said the NGOs, elected representatives and the Government could together bring about significant improvements in the quality of life of the poor and downtrodden. Justice V.S. Dave, former Rajasthan High Court Judge and CECOEDECON chairperson, said the service rendered and campaigns launched by the institution had generated awareness among the rural populace and empowered them to demand their rights.

About two dozen members of the institution were honoured for their achievements during the past year and several cultural programmes were organised.

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