Rashtriya Mahila Kosh (National Credit Fund for Women)

This paper presents an overview of the National Credit Fund for Women, also known as Rashtriya Mahila Kosh (RMK).

The RMK was set up by the government of India in 1993, as a national-level organization to meet the credit needs of poor and asset-less women in the informal sector. Its initial corpus has grown hugely due to prudent credit, investment and recovery management. Its governing board consists of 16 members including government representatives and microfinance specialists. RMK has taken many promotional measures to popularize the concept of microfinance, thrift and credit, formation and stabilization of self-help groups (SHGs) and enterprise development by poor women. RMK extends microfinance through intermediary microfinancing organizations (IMOs). Some of its loan schemes include:

• Loan promotion scheme;
• Main loan scheme;
• Revolving fund scheme;
• Refinance scheme;
• Repeat loans;
• Franchisee scheme;
• Housing loan scheme;
• Family loan scheme;
• Working capital term loan.

RMK has also extended its IMOs network across the country and is involved in building capacity and other support services through partnerships. Organizations applying for loans from RMK should fulfil certain eligibility norms.