Govt Collaborates with Bharat Financial Inclusion Limited to Boost Livelihood Intervention

New Delhi: In a significant move to bolster livelihood intervention initiatives, the Ministry of Rural Development, Government of India, has inked a Non-Financial Memorandum of Understanding (MoU) with Bharat Financial Inclusion Limited (BFIL). The collaboration aims to synchronize efforts in livestock and fisheries development, amplifying the impact of the Deendayal Antyodaya Yojana National Rural Livelihoods Mission (DAY-NRLM). The MoU signing ceremony, held in New Delhi, saw the participation of key dignitaries including Charanjit Singh, Additional Secretary, Ministry of Rural Development, and J Sridharan, Executive Vice Chairman, BFIL.

Highlighting the pivotal role of livestock in augmenting household income and meeting nutritional requirements, Charanjit Singh stressed the importance of adopting a saturation approach with clearly defined outputs. He underscored the potential for formalizing BFIL’s existing engagement with rural women, particularly in the livestock sector, through Joint Liability Groups (JLGs), thus maximizing the benefits for the community.

Expressing gratitude for the partnership with the Government of India, Executive Vice Chairman Shri J Sridharan reiterated BFIL’s commitment to facilitating community empowerment and ensuring optimal outcomes as per the agreement.

As part of the MoU, a centralized Project Monitoring Unit (PMU) will be established to provide national-level support to DAY-NRLM, with State PMUs planned for Maharashtra, Madhya Pradesh, Jharkhand, Uttar Pradesh, Rajasthan, Tamil Nadu, and Bihar. Comprising specialists in livestock and market linkage, the PMUs will spearhead initiatives to strengthen livestock cluster facilitation and develop IT-enabled ecosystems. Furthermore, BFIL will enhance the capabilities of Pashu Sakhis, last-mile extension workers trained under DAY-NRLM, to deliver basic healthcare services to animals and support SHG households.

This collaborative endeavor underscores the government’s commitment to leveraging strategic partnerships to drive sustainable rural development and upliftment of marginalized communities. With a shared vision for inclusive growth, the MoU between the Ministry of Rural Development and BFIL heralds a new chapter in empowering rural livelihoods and fostering economic resilience.