Women in Rajasthan set up bank to fund business ventures

Taking a cue from their counterparts in neighbouring Gujarat, women in Rajasthan are now setting up their own banks to inculcate saving habits and and fund entrepreneurial ventures.
    
More than 8,000 women from the villages led by Magasaysay award winner and social activist Ela Bhatt pledged to set up banks that would be funded by the members.
    
The movement has been inspired by Ela Bhatt's organisation--Self Employed Women's Association (SEWA) in Gujarat.
    
"Industrious Rajasthani women, like their counterparts in Gujarat can set up their bank like SEWA has in Gujarat which has a deposit of Rs 100 crores. The deposits are being used by over three lakh women shareholders to fund their various entrepreneurial programmes," she said.
    
Ela Bhatt, a former member of the planning commission and also a former parliamentarian, said financial strength would help women in standing tall.
    
"It's pity that women, despite working hard for longer hours than men, earn barely 10% from their labour. Even then they have to hand over their wages to their husbands. They should inculcate habit of saving money. It will bring financial as well as social empowerment for them," she said.