The Loan disbursement and repayments of Stree Nidhi for all the 1.5 lakh members will be recorded on the blockchain platform. The Self Help Group (SHG) Member level credit rating will be derived from these Blockchain transactions. SHG Members may now leverage their credit rating to avail other financial instruments from banks and other institutions.
The pilot project, implemented by Cognitochain, a start-up based out of Hyderabad, has been launched by Jayesh Ranjan, Principal Secretary to Information Technology & Electronic Communications, Sandeep Kumar Sultania Secretary to Panchayat Raj & Development Department and Vidya Sagar Reddy, Managing Director, Rural Stree Nidhi. The Pilot phase will include 1.5 Lakh SHG members of the Rajanna Sircilla District of Telangana.
Telangana is at the forefront of using frontier technologies for delivering services to the citizens. This project is unique as it serves the poorest of the poor and has the potential to replicate across the country said Jayesh Ranjan.
