Press Information Bureau
Government of India
Ministry of Women and Child Development
24-August-2012 17:02 IST
Enhancing Corpus Fund under the Rashtriya Mahila Kosh
The Union Government has decided to enhance the corpus fund under the Rashtriya Mahila Kosh. The Finance Minister had made the following announcement in the Union Budget 2009-2010:

“RashtriyaMahilaKosh has been working towards the facilitation of credit support or micro-finance to poor women and has developed a number of innovative schemes for their benefit. In recognition of its role as an instrument of socio-economic change and development, the corpus of the Kosh, which at present is Rs. 100 crore, would be raised to Rs. 500 crore, over the next five years.”

In line with the same, an Expenditure Finance Committee Note has been moved by the Ministry of Women and Child Development to restructure and strengthen Rashtriya Mahila Kosh from existing single office Society to Government owned Non Deposit Taking Systemically Important Non-Banking Finance Company (NBFC-ND-SI) u/s 617 of the Companies Act with a Pan-India office network. In the process, Rs 500 crore is proposed to be infused in a period of five years by the Government.

This was stated by Smt. Krishna Tirath, Minister for Women and Child Development in a written reply to the Lok Sabha today.