Bank lethargy hits women's self-employment in Agra: Only 2,544 out of 5,000 target groups receive loans

The initiative to empower women through Self-Help Groups (SHGs) in Agra is being severely hampered by the sluggish response from banks. Although the government has established a system to provide collateral-free loans to promote women's self-employment, the pace at which banks are approving these loan applications remains disappointingly slow.

According to reports from Amar Ujala, a target was set for the current financial year to provide loans to 5,000 SHGs in the Agra district. However, compared to this target, only 2,544 groups have received loan approval thus far. This figure is significantly lower than the established goal, raising serious questions about the effective implementation of the scheme.

Due to this lethargy from banks, women who have been waiting for loans to launch their small businesses are facing immense difficulties. Through SHGs, women aim to increase their income by engaging in activities such as tailoring, knitting, pickle making, and other small-scale industries; however, their aspirations remain unfulfilled due to a lack of capital.

Administrative sources indicate that despite repeated instructions to banks, there has been no acceleration in the processing of applications. Bank officials frequently cite a lack of documentation or other technical reasons for keeping applications pending. This not only wastes the time of the women involved but also diminishes their enthusiasm for entrepreneurship.

The facility of collateral-free loans for SHGs was introduced to ensure that poor and needy women could easily start their own work. However, the complex procedures adopted by banks have turned this facility into a difficult challenge. If this situation persists, achieving the annual target set for the district will become increasingly difficult.

Local administration is now attempting to resolve this issue by holding coordination meetings with banks. Officials emphasize that banks must recognize this as a government priority scheme where any delay is unacceptable. A review meeting will be held soon to ensure that pending applications are processed rapidly.

Promoting women's self-employment is a key priority for the government. If banks fail to provide loans in a timely manner, the fundamental objective of this scheme will fail. It is hoped that the banks will change their approach in the coming weeks, allowing more SHGs to receive loans and thereby providing women with the economic stability they seek.