LUNGLEI: As an initiative towards supporting SHGs to market their products effectively, NABARD has sanctioned to World Vision India a financial assistance of Rs.4.01 lakh for setting up of Gram Dukan (SHG Variety Store), which will be managed by Obadia SHG, at Venglai locality in Lunglei idstrict.

Deputy Commissioner of Lunglei district, Ramdinliani on Monday formally inaugurated the Gram Dukan (SHG Variety Store), during which she narrated the importance of professionalism in managing the store, quality & standardization and proper labeling of products.

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Evan T Munsong, DDM, NABARD, said the Gram Dukan (SHG Variety Store) is for marketing of products/produce of SHG, artisans, weavers, etc in the area.

He also expressed that it is expected to be an important model for marketing initiative and providing marketing platform for SHGs and other entrepreneurs in the district.

The marketing platform is expected to create awareness of the SHGs’ activities and products in the district and beyond.

NABARD has continued its role as the facilitator of microfinance initiatives in the country.

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The vision is to facilitate sustained access to financial services for the unreached poor in rural areas through various microfinance innovations in a cost effective and sustainable manner.

The need for economic inclusion of large sections of society bereft of resources and benefits of formal banking system, especially women and also the rural poor formed the background for the introduction of Self Help Group – Bank Linkage Programme (SHG Financing by Banks) in 1992.

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This programme not only made banking accessible to the most excluded sections of society but also empowered them socially with its innovative approach to financial literacy, group collateral approach and purpose neutrality of loans.