PM Modi to visit Prayagraj today; transfer Rs 1,000 crore in account of 16 lakh women

Prime Minister Narendra Modi will visit Uttar Pradesh's Prayagraj on Tuesday and participate in a one of its kind programme to be attended by over two lakh women, his office said. The programme is being held as per Modi's vision to empower women, especially at the grassroots level, by providing them with necessary skills, incentives and resources, the PMO said, adding that he will transfer an amount of Rs 1,000 crore in the bank account of Self Help Groups (SHGs), benefitting around 16 lakh women members. This transfer is being done under the Deendayal Antyodaya Yojana -- National Rural Livelihood Mission (DAY-NRLM), with 80,000 SHGs receiving Community Investment Fund (CIF) of Rs 1.10 lakh per SHG and 60,000 SHGs receiving a revolving fund of Rs 15,000 per SHG, it said.

To encourage business correspondent-Sakhis (BC-Sakhis), the Prime Minister will also transfer a sum of Rs 4,000 as the first month's stipend in the account of 20,000 of them. When BC-Sakhis commence their work as providers of doorstep financial services at the grassroot level, they are paid a stipend of Rs 4,000 for six months, so that they get stabilised in their work and then start earning through the commission on transactions, the PMO said.