Aajeevika Grameen Express Yojana Punjab [AGEY] – Interest Free Loans for SHGs
Aajeevika Grameen Express Yojana Punjab [AGEY]
Under the Aajeevika Grameen Express Yojana (AGEY), the Punjab Government will help in providing safe, affordable and community monitored rural transport services to connect remote villages with key services and amenities. The Self Help Groups (SHGs) under DAY-NRLM will operate the road transport services in the backward areas.
Under this scheme, the state government will provide interest-free loans to the self-help groups. The SHGs will have to repay the loan within 6 years duration after which vehicle will be transferred in the name of the SHG member. This scheme would result in the overall economic development of backward rural areas.
Aajeevika Grameen Express Yojana Punjab (AGEY)
The Punjab Government is going to launch the Aajeevika Grameen Express Yojana under the National Rural Livelihood Mission. The state government is going to launch this scheme to benefit 123 self-help group families. For this scheme, the community investment fund (CIF) provided to the community-based organization (CBOs) under DAY-NRLM will be used in order to support SHG members in this livelihoods initiative. The SHG beneficiaries will be provided an interest-free loan by the CBO upto Rs.6.50 lakh for purchase of the vehicle.
Apart from this, the state government has also proposed that CBO will own the vehicle and lease it to an SHG member in order to operate the vehicle and pay lease rental to the CBO. The Punjab Government will launch this initiative as a pilot project in 6 blocks from FY 2018-19 to 2020-21.