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International Research Journal      ISSN-0975-3486       VOL. I * ISSUE—3&4         RNI : RAJBIL/2009/30097

                                             Research Paper
                                ROLE OF BANKING IN RURAL
                                   ENTREPRENEURSHIP IN
                                     MADHYA PRADESH
                                    [WITH REFERENCE SWARN JAYANTI
                                       GRAM SWAROZGAR YOJANA]
 Dec.-09—Jan.-2010
                                     * Dr. Dinesh Kumar Singhal**Vaishali Desai
                     * Professor, S.N.G.(P.G.) College, Khandwa (M.P)
                 ** Research Scholar, S.N.G.(P.G.) College, Khandwa (M.P)
 A B S T R A C T
   Under Swarnjayanti Gram Swarozgar Yojana, the beneficiaries are known as Swarozgaris. The
   Swarozgaris can be either individuals or groups. Swarozgaris. Can Gram Swarozgar Yojana (SGSY)
   lays emphasis on the group approach, under which the rural poor are organized into Sef-Help
   Groups. In either case, the list of BPL households identified through BPL census, duly approved by the
   Gram Sabha will form the basis for identification of families for assistance under SGSY. The self-help
   groups should also be drawn from the BPL list approved by Gram Sabha. This Research paper is
   about the Swarozgaris and the linkages with the banks

SGSY will focus on Organisation of the poor at            ation. The groups that are formed with thrift and credit
grassroots level through a process of mobilisation for    as an entry point have demonstrated that the poor can
poverty eradication. SGSY’s approach to organise the      secure greater access to credit and other support ser-
poor stems from the conviction that there is tremen-      vices for enhancing their income levels.
dous potential within the poor to help themselves and       Objectives:-To study financial progress credit and
that the potential can be harnessed by organising them.     Subsidy disbursed, To Investment And per
Social mobilisation enables the poor build their own        swarozgari Investment under SGSY during year
organisatioins (Self-Help Groups (SHGs)) in which           2004-05 in Madhya Pradesh.
they participate fully and directly and take decisions    FINANCING THE INVESTMENTS-BANK CREDIT
on all issues concerning poverty eradication. Simulta-    AND SUBSIDY
neously, SHGs have the advantage of the assistance-       Financial assistance to Swarozgaris under SGSY com-
be it terms off credit or technology or market guidance   prises of two components viz. loan and subsidy. SGSY
etc.-reaching the poor faster and more effectively.       is a credit-linked scheme and credit is the key element.
      Social mobilisation is not a spontaneous process;   Subsidy is only a minor and enabling component. The
it has be induced. DRDAs are expected initiate and        major part of investment consists of bank credit from
sustain the process of mobilisation for poverty eradi-    financial institutions comprising commercial banks,
cation by formation, development and strengthening        cooperative banks and regional rural banks. This Re-
of the SHGS. Issues that are key to poverty eradica-      search deals with the various aspects of the flow of
tion should become entry point for DRDAs to organise      credit and subsidy to the Swarozgaris.
the poor into SHGS. There could be different entry        Multiple Credit and Multiple doses of Credit
points for different SHGS depending on the local situ-          SGSY will seek to develop close linkages with
çÚUâ¿ü °ÙæçÜçââ °‡ÇU §ßñËØé°àæÙ                                                                               27
International Research Journal      ISSN-0975-3486     VOL. I * ISSUE—3 &4      RNI : RAJBIL/2009/30097

Financial Progress-Credit And Subsidy Disbursed, Total Investment And Per Swarozari Investment under
                                    SGSY during year 2004-2005
State Name: MADHYA PRADESH
S.NO.   District       Till        Total             Credit Disbursed by
                      Month       Cradit   Commercial Cooperative Regional O t h e r s      Total   %Credit
                                  Target   Bank           Bank           Rural  Disbursed
                                                                                  Bank
1.      BALAGHAT        03          —      384.2 6.26     164.53         4.8     559.82             366.8545
2.      BARWANI         03          —      39.52          11.75          22.53     3.15    65.95     43.2176
3.      BETUL           03          —      648.72         0              0           0     648.72    425.114
4.      BHIND           03          —      128.02         0              39.5      0.53    168.5    110.1245
5.      BHOPAL          03          —      104.58         14.63          17.82       0     137.03    89.7969
6.      CHHATARRUR      03          —      206.45         27.5           84.5        0     318.45   208.6828
7.      CHHINDWARA      03          —      287.52         0              115.08      0     402.6     263.827
8.      DAMOH           03          —      316.66         44.15          28.71       0     389.52   255.2556
9.      DATIA           03          —      53.2           0              15.3        0      68.5     44.8886
10.     DEWAS           03          —      155.51         0              87.4        0     242.91   159.1809
11.     DHAR            03          —      426.68         49.06          164.7       0     639.81   419.2726
12.     DINDORI         03          —      71             1.07           28.24       0     100.94    66.1468
13.     EAST NIMAR      03          —      301.75         78.68          83.35       0     463.73   303.9187
14.     GUNA            03          —      200.55         0              42.42      5.1    248.07   162.5623
15.     GWALIOR         03          —      242.53         0              71.75       0     314.28   205.9502
16.     HARDA           03          —      62.02          0              17.08     0.63    79.73     52.1477
17.     HOSHANGABAD     03          —      153.51         62.73          59.32       0     275.56   180.5767
18.     INDORE          03          —      95.94          0              1.38      3.63      101     66.1861
19.     JABALPUR        03          —      234.68         0.32           1.55      1.73    238.28   156.1468
20.     JHABUA          03          —      305.35         186.82         97.19       0     589.36   386.2123
21.     KATNI           03          —      414.35         0.99           35.15       0     450.49   295.2097
22.     KHARGONE        03          —      121.81         41.02          52.12     3.08    218.21   142.9948
23.     MANDLA          03          —      136.74         8              83.12       0     227.86   149.3185
24.     MANDSAUR        03          —      107.61         31.41          29       18.39    186.41    122.156
25.     MORENA          03          —      114.99         9.84           9.43      2.44    136.7     89.5806
26.     NARSINGHPUR     03          —      127.03         0              14.48       0     141.78    92.9096
27.     NIMACH          03          —      57.78          11.44          12.17     8.04    89.43     58.6042
28.     PANNA           03          —      94.25          5.5            36.29       0     136.04    89.1481
29.     RAISEN          03          —      190.01         10.09          82.16     7.51    290.67   190.4784
30.     RAJGARH         03          —      128.97         0              40.19    26.87    196.03    128.46
31.     RATLAM          03          —      159.43         22.09          25.77       0     207.29   135.8388
32.     REWA            03          —      181.61         0              108.34      0     289.95   190.0066
33.     SAGAR           03          —      181.26         0              34.49   108.93 324.68      212.7654
34.     SATNA           03          —      129.21         2.36           228.84     6.3    366.71    240.308
35.     SEHORE          03          —      370.94         0              16.4        0     387.34    253.827
36.     SEONI           03          —      287.05         0              133.92      0     421.42   276.1599
37.     SHAHDOL         03          —      354.57         37.01          151.07      0     542.65   355.6029
38.     SHAJAPUR        03          —      181.12         24.72          49.69     22.6    258.13   169.1547
39.     SHEOPUR         03          —      78.94          9.29           27          0     115.23    75.5111
40.     SHIVPURI        03          —      127.87         0              65.4      8.55    201.82   132.2543
41.     SIDHI           03          —      65             6.65           53.47       2     127.12    83.3028
42.     TIKAMGARH       03          —      71.86          0              74.14       0       146     95.675
43.     UJJAIN          03          —      134.05         0              47.43       0     181.93   119.2202
44.     UMARIA          03          —      70.307         20.52          44.81     8.02   143.657    94.1396
45.     VIDISHA         03          —      0              0              0           0        0         0
        Total                              8306.437      725.52       2585.6     222.35 11839.907      0



28
International Research Journal       ISSN-0975-3486       VOL. I * ISSUE—3&4          RNI : RAJBIL/2009/30097
credit mechanism in such a manner as would promote              DATA BASE AND METHODOLOGY:- The study
multiple credit rather than a one time credit injection.   is Restricted to madhya Pradesh state with 45 districts
Multiple doses of credit would mean assisting a            of the commercial banks, cooperative banks, Regional
Swarozgari over a period of time with a secone and         rural banks and other for the Period of 2004-05. Re-
subsequent dose (s) enabling him/her to access higher      searcher adopted and collects all necessary data. Tha
amount of credit. The Swarozgari should have the con-      stady is completely based on actual field work. Data
fidence that so long as he/she proves her credit wor-      Used for this stady has been collected from second-
thiness by way of proper utilization of the asset and      ary sources. Secondary sources data of bank lists of
prompt repayment, the bank will stand by him/her and       Madhya Pradesh state collected from commercial, co-
will provide additional credit, whether or not this is     operative, Regional Rural and other banks.
backed by subsidy.                                         Results-1.The banks can build up the image of a people
Subsidy                                                    oriented organisation’ by promoting SHGs and doing
     Subsidy under SGSY will be uniform at 30% of the      banking business with them. 2.Through the SHG strat-
project cost, subject to a maximumof Rs.7500/-. In re-     egy banks are able to mop up srnall savings which is
spect of SC/STs, however, these will be 50% and            virtually non existent otherwise. Through the SHGs
Rs.10000/- respectively. For groups of Swarozgaris         they are able to inculcate savings habit among the
(SHGs), the subsidy would be at 50% of the project         very poor people. 3. The loan utilization is between
cost subject to per capital subsidy of Rs.10,000/- or      90and 95% in SHGs compared to 30 to 40% in non
Rs.1.25 lakh, whichever is less. There will be no mon-     group cases. Loan repayment is 100% something un-
etary limit on subsidy for irrigation projects. Subsidy    heard of in banking with poor in any other strategy. 4.
will be back-ended. Banks would disburse the full          Bank can dispense with recourse financing (security
project cost including subsidy to the Swarozgaris as       oriented approach) 5. Banks are able to reach the
loan. The benefits of subsidy will also be available to    unreached. A large number of poor people could be
Swarozgaris who prefer to avail themselves of required     reached through SHG with less cost and effort. SHG
working capital in the form of cash credit. The opera-     approach has helped the banks in rehabilitation of
tion of subsidy amount by the bank will be as follows:     some of the hard core defaulters to the banks.
i) The subsidy admissible to the Swarozgaris under         Conclusion
SGSY should be kept in the Subsidy Reserve Fund                  The success of business with SHGs depends on
Account Swarozgari-wise instead of in term deposit in      the way it is done. There is a very favourable environ-
the name of the Swarozgari. Banks should apply no          ment for this business today and bankers are aware of
interest on the Subsidy Reserve Fund Account. In           it. Even the co-operative banks are eager to do busi-
view of this, for the purpose of charging interest on      ness with SHGs. There are a number of operational
the loan, the subsidy amount should be excluded.The        guidelines for bankers for financing SHGs. But guide-
availability of the benefit of subsidy to Swarozgaris      lines alone will not make the strategy effective. It is the
would be contingent on their roper utilization of loan     human element of faith which is the key to success in
as also its prompt repayment and maintaining the as-       SHG bank linkage.
set in good condition.

R E F E R E N C E
     (1) Tyagi, Anil kumar, Women working in ancient india, Radha publication, New
     (2) Dr. Das, Naggopal, Unemployment & employment planning., orient Longmans, delhi
     (3)Dholkiya Jitendra, Unemployment & employment policy, Sterling publication. Pvt.Ltd, Delhi
     (4)Choudhary, Pramit, Poverty and Development, Vikas publicing house Pvt. Ltd., Delhi
     (5)Thakur, S.D., Poverty, Inequality and Unemploument in India, B.R.Publication corporation, Delhi
     (6) Agrawal, D.K. Entrepreneurship development, shiva publication Indore

çÚUâ¿ü °ÙæçÜçââ °‡ÇU §ßñËØé°àæÙ                                                                                   29

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RESEARCH ANALYSIS AND EVALUATION

  • 1. International Research Journal ISSN-0975-3486 VOL. I * ISSUE—3&4 RNI : RAJBIL/2009/30097 Research Paper ROLE OF BANKING IN RURAL ENTREPRENEURSHIP IN MADHYA PRADESH [WITH REFERENCE SWARN JAYANTI GRAM SWAROZGAR YOJANA] Dec.-09—Jan.-2010 * Dr. Dinesh Kumar Singhal**Vaishali Desai * Professor, S.N.G.(P.G.) College, Khandwa (M.P) ** Research Scholar, S.N.G.(P.G.) College, Khandwa (M.P) A B S T R A C T Under Swarnjayanti Gram Swarozgar Yojana, the beneficiaries are known as Swarozgaris. The Swarozgaris can be either individuals or groups. Swarozgaris. Can Gram Swarozgar Yojana (SGSY) lays emphasis on the group approach, under which the rural poor are organized into Sef-Help Groups. In either case, the list of BPL households identified through BPL census, duly approved by the Gram Sabha will form the basis for identification of families for assistance under SGSY. The self-help groups should also be drawn from the BPL list approved by Gram Sabha. This Research paper is about the Swarozgaris and the linkages with the banks SGSY will focus on Organisation of the poor at ation. The groups that are formed with thrift and credit grassroots level through a process of mobilisation for as an entry point have demonstrated that the poor can poverty eradication. SGSY’s approach to organise the secure greater access to credit and other support ser- poor stems from the conviction that there is tremen- vices for enhancing their income levels. dous potential within the poor to help themselves and Objectives:-To study financial progress credit and that the potential can be harnessed by organising them. Subsidy disbursed, To Investment And per Social mobilisation enables the poor build their own swarozgari Investment under SGSY during year organisatioins (Self-Help Groups (SHGs)) in which 2004-05 in Madhya Pradesh. they participate fully and directly and take decisions FINANCING THE INVESTMENTS-BANK CREDIT on all issues concerning poverty eradication. Simulta- AND SUBSIDY neously, SHGs have the advantage of the assistance- Financial assistance to Swarozgaris under SGSY com- be it terms off credit or technology or market guidance prises of two components viz. loan and subsidy. SGSY etc.-reaching the poor faster and more effectively. is a credit-linked scheme and credit is the key element. Social mobilisation is not a spontaneous process; Subsidy is only a minor and enabling component. The it has be induced. DRDAs are expected initiate and major part of investment consists of bank credit from sustain the process of mobilisation for poverty eradi- financial institutions comprising commercial banks, cation by formation, development and strengthening cooperative banks and regional rural banks. This Re- of the SHGS. Issues that are key to poverty eradica- search deals with the various aspects of the flow of tion should become entry point for DRDAs to organise credit and subsidy to the Swarozgaris. the poor into SHGS. There could be different entry Multiple Credit and Multiple doses of Credit points for different SHGS depending on the local situ- SGSY will seek to develop close linkages with çÚUâ¿ü °ÙæçÜçââ °‡ÇU §ßñËØé°àæÙ 27
  • 2. International Research Journal ISSN-0975-3486 VOL. I * ISSUE—3 &4 RNI : RAJBIL/2009/30097 Financial Progress-Credit And Subsidy Disbursed, Total Investment And Per Swarozari Investment under SGSY during year 2004-2005 State Name: MADHYA PRADESH S.NO. District Till Total Credit Disbursed by Month Cradit Commercial Cooperative Regional O t h e r s Total %Credit Target Bank Bank Rural Disbursed Bank 1. BALAGHAT 03 — 384.2 6.26 164.53 4.8 559.82 366.8545 2. BARWANI 03 — 39.52 11.75 22.53 3.15 65.95 43.2176 3. BETUL 03 — 648.72 0 0 0 648.72 425.114 4. BHIND 03 — 128.02 0 39.5 0.53 168.5 110.1245 5. BHOPAL 03 — 104.58 14.63 17.82 0 137.03 89.7969 6. CHHATARRUR 03 — 206.45 27.5 84.5 0 318.45 208.6828 7. CHHINDWARA 03 — 287.52 0 115.08 0 402.6 263.827 8. DAMOH 03 — 316.66 44.15 28.71 0 389.52 255.2556 9. DATIA 03 — 53.2 0 15.3 0 68.5 44.8886 10. DEWAS 03 — 155.51 0 87.4 0 242.91 159.1809 11. DHAR 03 — 426.68 49.06 164.7 0 639.81 419.2726 12. DINDORI 03 — 71 1.07 28.24 0 100.94 66.1468 13. EAST NIMAR 03 — 301.75 78.68 83.35 0 463.73 303.9187 14. GUNA 03 — 200.55 0 42.42 5.1 248.07 162.5623 15. GWALIOR 03 — 242.53 0 71.75 0 314.28 205.9502 16. HARDA 03 — 62.02 0 17.08 0.63 79.73 52.1477 17. HOSHANGABAD 03 — 153.51 62.73 59.32 0 275.56 180.5767 18. INDORE 03 — 95.94 0 1.38 3.63 101 66.1861 19. JABALPUR 03 — 234.68 0.32 1.55 1.73 238.28 156.1468 20. JHABUA 03 — 305.35 186.82 97.19 0 589.36 386.2123 21. KATNI 03 — 414.35 0.99 35.15 0 450.49 295.2097 22. KHARGONE 03 — 121.81 41.02 52.12 3.08 218.21 142.9948 23. MANDLA 03 — 136.74 8 83.12 0 227.86 149.3185 24. MANDSAUR 03 — 107.61 31.41 29 18.39 186.41 122.156 25. MORENA 03 — 114.99 9.84 9.43 2.44 136.7 89.5806 26. NARSINGHPUR 03 — 127.03 0 14.48 0 141.78 92.9096 27. NIMACH 03 — 57.78 11.44 12.17 8.04 89.43 58.6042 28. PANNA 03 — 94.25 5.5 36.29 0 136.04 89.1481 29. RAISEN 03 — 190.01 10.09 82.16 7.51 290.67 190.4784 30. RAJGARH 03 — 128.97 0 40.19 26.87 196.03 128.46 31. RATLAM 03 — 159.43 22.09 25.77 0 207.29 135.8388 32. REWA 03 — 181.61 0 108.34 0 289.95 190.0066 33. SAGAR 03 — 181.26 0 34.49 108.93 324.68 212.7654 34. SATNA 03 — 129.21 2.36 228.84 6.3 366.71 240.308 35. SEHORE 03 — 370.94 0 16.4 0 387.34 253.827 36. SEONI 03 — 287.05 0 133.92 0 421.42 276.1599 37. SHAHDOL 03 — 354.57 37.01 151.07 0 542.65 355.6029 38. SHAJAPUR 03 — 181.12 24.72 49.69 22.6 258.13 169.1547 39. SHEOPUR 03 — 78.94 9.29 27 0 115.23 75.5111 40. SHIVPURI 03 — 127.87 0 65.4 8.55 201.82 132.2543 41. SIDHI 03 — 65 6.65 53.47 2 127.12 83.3028 42. TIKAMGARH 03 — 71.86 0 74.14 0 146 95.675 43. UJJAIN 03 — 134.05 0 47.43 0 181.93 119.2202 44. UMARIA 03 — 70.307 20.52 44.81 8.02 143.657 94.1396 45. VIDISHA 03 — 0 0 0 0 0 0 Total 8306.437 725.52 2585.6 222.35 11839.907 0 28
  • 3. International Research Journal ISSN-0975-3486 VOL. I * ISSUE—3&4 RNI : RAJBIL/2009/30097 credit mechanism in such a manner as would promote DATA BASE AND METHODOLOGY:- The study multiple credit rather than a one time credit injection. is Restricted to madhya Pradesh state with 45 districts Multiple doses of credit would mean assisting a of the commercial banks, cooperative banks, Regional Swarozgari over a period of time with a secone and rural banks and other for the Period of 2004-05. Re- subsequent dose (s) enabling him/her to access higher searcher adopted and collects all necessary data. Tha amount of credit. The Swarozgari should have the con- stady is completely based on actual field work. Data fidence that so long as he/she proves her credit wor- Used for this stady has been collected from second- thiness by way of proper utilization of the asset and ary sources. Secondary sources data of bank lists of prompt repayment, the bank will stand by him/her and Madhya Pradesh state collected from commercial, co- will provide additional credit, whether or not this is operative, Regional Rural and other banks. backed by subsidy. Results-1.The banks can build up the image of a people Subsidy oriented organisation’ by promoting SHGs and doing Subsidy under SGSY will be uniform at 30% of the banking business with them. 2.Through the SHG strat- project cost, subject to a maximumof Rs.7500/-. In re- egy banks are able to mop up srnall savings which is spect of SC/STs, however, these will be 50% and virtually non existent otherwise. Through the SHGs Rs.10000/- respectively. For groups of Swarozgaris they are able to inculcate savings habit among the (SHGs), the subsidy would be at 50% of the project very poor people. 3. The loan utilization is between cost subject to per capital subsidy of Rs.10,000/- or 90and 95% in SHGs compared to 30 to 40% in non Rs.1.25 lakh, whichever is less. There will be no mon- group cases. Loan repayment is 100% something un- etary limit on subsidy for irrigation projects. Subsidy heard of in banking with poor in any other strategy. 4. will be back-ended. Banks would disburse the full Bank can dispense with recourse financing (security project cost including subsidy to the Swarozgaris as oriented approach) 5. Banks are able to reach the loan. The benefits of subsidy will also be available to unreached. A large number of poor people could be Swarozgaris who prefer to avail themselves of required reached through SHG with less cost and effort. SHG working capital in the form of cash credit. The opera- approach has helped the banks in rehabilitation of tion of subsidy amount by the bank will be as follows: some of the hard core defaulters to the banks. i) The subsidy admissible to the Swarozgaris under Conclusion SGSY should be kept in the Subsidy Reserve Fund The success of business with SHGs depends on Account Swarozgari-wise instead of in term deposit in the way it is done. There is a very favourable environ- the name of the Swarozgari. Banks should apply no ment for this business today and bankers are aware of interest on the Subsidy Reserve Fund Account. In it. Even the co-operative banks are eager to do busi- view of this, for the purpose of charging interest on ness with SHGs. There are a number of operational the loan, the subsidy amount should be excluded.The guidelines for bankers for financing SHGs. But guide- availability of the benefit of subsidy to Swarozgaris lines alone will not make the strategy effective. It is the would be contingent on their roper utilization of loan human element of faith which is the key to success in as also its prompt repayment and maintaining the as- SHG bank linkage. set in good condition. R E F E R E N C E (1) Tyagi, Anil kumar, Women working in ancient india, Radha publication, New (2) Dr. Das, Naggopal, Unemployment & employment planning., orient Longmans, delhi (3)Dholkiya Jitendra, Unemployment & employment policy, Sterling publication. Pvt.Ltd, Delhi (4)Choudhary, Pramit, Poverty and Development, Vikas publicing house Pvt. Ltd., Delhi (5)Thakur, S.D., Poverty, Inequality and Unemploument in India, B.R.Publication corporation, Delhi (6) Agrawal, D.K. Entrepreneurship development, shiva publication Indore çÚUâ¿ü °ÙæçÜçââ °‡ÇU §ßñËØé°àæÙ 29