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Which agency supported the Bihar State Rural Livelihoods Mission (Jeevika) in developing digital financial services?
SBI
RBI
SIDBI
SEBI
SIDBI
The Small Industries Development Bank of India (SIDBI) partnered with the Bihar State Rural Livelihoods Mission (BRLM), locally known as Jeevika, to enhance financial inclusion. This collaboration specifically focused on promoting digital financial literacy and expanding digital payment infrastructure among rural self-help groups (SHGs).
The Small Industries Development Bank of India (SIDBI) partnered with the Bihar State Rural Livelihoods Mission (BRLM), locally known as Jeevika, to enhance financial inclusion. This collaboration specifically focused on promoting digital financial literacy and expanding digital payment infrastructure among rural self-help groups (SHGs).
SIDBI was established on April 2, 1990, under an Act of the Indian Parliament, as the principal financial institution for the promotion, financing, and development of the Micro, Small, and Medium Enterprises (MSME) sector.
Jeevika is a state-wide initiative supported by the World Bank to reduce poverty in Bihar through social and economic empowerment.
The partnership with SIDBI aims to facilitate credit access and digitize transactions for rural women entrepreneurs.
Jeevika operates as an autonomous society under the Department of Rural Development, Government of Bihar.
SIDBI promotes digital financial services to ensure that rural beneficiaries can access direct benefit transfers (DBTs) and credit products seamlessly.
Option B (RBI) is the central banking regulatory authority and does not engage in direct project-based technical support for rural livelihood missions.
Option A (SBI) is a public sector commercial bank, while Option D (SEBI) is the capital market regulator, neither of which fulfills the mandate of SIDBI in this rural development context.
C is correct тАФ SIDBI supported the Bihar State Rural Livelihoods Mission (Jeevika) by providing technical support to foster digital financial services for rural households.
When studying rural development, correlate Jeevika (Bihar) with the National Rural Livelihood Mission (NRLM), as most state missions are local iterations of the central NRLM program funded by the Ministry of Rural Development.
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