Karnataka CM wants to set up bank for women entrepreneurs

Wants to empower women to enable them to contribute to State’s GDP

Promising greater help to women entrepreneurs in Karnataka, Chief Minister Basavaraj Bommai said he is in talks with officials in the Finance Department to start a bank exclusively to enable better access to finance.

“I have been thinking of an institution that can provide greater finances to women entrepreneurs. I am talking to Finance department to create a financial institution to cater exclusively to women entrepreneurs whether they are a Stree Shakthi Sangha or individual entrepreneurs,” the Chief Minister told women entrepreneurs in Bengaluru on November 18. Addressing participants at ‘Together We Grow’, an event organised by UBUNTU Consortium of Women Entrepreneurs Association to mark International Women Entrepreneurship Day, he said that though Stree Shakthi Sanghas are provided financial assistance, they require bigger finances.

Responding to a petition submitted by women entrepreneurs seeking government help, the Chief Minister promised that a chapter to incentivise women would be brought back in the Industrial Policy 2025. The entrepreneurs had pointed out that the chapter was in the 2009 edition of the industrial policy, but is missing in the 2025 edition.

The Chief Minister urged the entrepreneurs to employ physically and visually challenged women. He said that a special programme to assist physically challenged or visually challenged persons secure a job will be unveiled in a week.

Mr. Bommai said that Karnataka, which currently stands at number 3 position in terms of per capita income, will be empowering women to enable them to contribute to the State’s GDP.

“Nearly 65% of the population does not contribute to the per capita income or GDP. We are working to economically empower this section, especially women, who can significantly help the GDP grow. If about 35% of women can take part in economic activity, it can improve their financial situation and the per capita income of Karnataka.”

Industries Minister Murugesh Nirani said that four industrial parks dedicated to women will be coming up in Mysuru, Harohalli, Dharwad and Kalaburagi.

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