Mahila Samridhi Yojana: With the objective to encourage women entrepreneurs and give impetus to their business journey, the Ministry of Social Justice and Empowerment, the Government of India has implemented a strategic policy – Mahila Samridhi Yojana. Under the visionary scheme, the government provides microfinance to women entrepreneurs hailing from marginalized sections of the society – backward classes. Designed considering the women empowerment, the flagship scheme is being implemented by a wide range of channel partners nationwide. Targeted women beneficiaries are identified and given loan either directly or in the form of Self-Help Groups (SHGs).
Main objective of the Mahila Samridhi Yojana
- Through this scheme, the scheme works to provide micro-credit to target group women and self-employed women entrepreneurs to create self-employment for women of nomadic and free castes.
- This scheme allows women to do business/business of their choice.
Mahila Samridhi Yojana: Eligibility to get loan
- To avail the benefit of this scheme the applicant should be nomadic or freed caste women.
- With effect from 01/04/2018, the annual income limit of your family will be up to Rs.3 lakh, within which at least 50% of the total loan amount will be allocated for families with annual income up to Rs.1.50 lakh.
- Applicant’s age should be at least 21 years and not more than 50 years on the date of application.
- Applicant should have experience in case of technical and skilled business/ profession.
- The applicant has to provide adequate security for taking the loan.
Features of the Mahila Samridhi Yojana
- The maximum loan limit will be up to Rs.1,25,000/-.
- The rate of interest will be 4% per annum
- Under this scheme, 100% of the business/business amount will be loaned.
- The loan amount will be 95% National Corporation, 5% State Government contribution and 0% beneficiary contribution.
- The loan amount has to be repaid in 48 equal monthly installments including interest.
- Applicant’s income statement
- Instance of caste of the applicant
- Proof of Residence (Aadhaar Card, Electricity Bill etc.)
- Paradigm for business
- Copy of first page of bank passbook
Mahila Samridhi Yojana: Important Links
- Official website: Click Here
- Home Page: Click Here