While praising the non-governmental organisation Shri Kshetra Dharmasthala Rural Development Project (SKDRDP) for its efforts to promote self-help groups (SHG) in Karnataka, the Defence Minister, Nirmala Sitharaman, has said the organisation has taken steps to educate SHG members on the importance of the money given to them.

Launching ‘Pragati Raksha Kavacha’ – a loan-cum-life insurance scheme for the members of SHGs promoted by SKDRDP – in Dharmasthala on Monday, she said that D Veerendra Heggade, Dharmadhikari of Shri Kshetra Dharmasthala and president of SKDRDP, educated people about the importance of money that is given to them.

With that education everybody came back to pay and get new loans. He did not force them to pay back, but educated them to pay the loans back, she said. This is the kind of responsibility and education India needs today. Responsibility is not just to give money, but to be with them, educate them, and go along with them, she added.

She said that Dharmasthala came out with schemes for SHG members who needed limited amounts to carry out their works much before governments came up with schemes to benefit the people who deserve them.

Referring to the SKDRDP’s insurance scheme, along with LIC (Life Insurance Corporation) of India, she said the ‘Pragati Raksha Kavacha’ provides insurance cover to the loan of the SHG member in case of a tragedy. It is the thoughtful initiative that has been taken by SKDRDP, she said.

VK Sharma, Chairman of LIC, said that the borrowing of the member is covered against the death with a very low premium under this scheme. In the event of a tragedy, the loan of the member within the group will be paid by the insurance company besides paying the balance of the sum assured to the nominee.

He said that LIC won’t take more than 10 days for settling the claims. It will do the entire process with the help of technology, he added.

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