Mission Shakti Loan Scheme Unveiled: Odisha Chief Minister Launches Interest-Free Loans for Women in Self-Help Groups. The initiative offers loans up to Rs. 10 lakh to 70 lakh women in self-help groups and includes additional support such as uniforms and blazers. The scheme also outlines a Rs. 145 crore interest repayment plan. Dive into the details in the article below.
Mission Shakti Loan Scheme Odisha 2024
“Mission Shakti Loan Scheme Odisha 2024: Chief Minister Naveen Patnaik Unveils Interest-Free Loans and Uniform Support. The recent ceremony at Lok Seva Bhavan Convention Centre in Bhubaneswar marked the launch of the Mission Shakti loan initiative. Under this scheme, women qualifying for the program can access interest-free loans of up to Rs 10 lakh, accompanied by support in the form of blazers and uniforms. Aimed at empowering 70 lakh women in Odisha’s self-help groups (SHGs), this initiative enhances financial independence for mothers. The SHGs have been allocated a loan amount of Rs 15,000 crore for the current year, with an additional Rs 75,000 crore over the next five years.”
Highlights of Mission Shakti Loan Scheme Odisha
- Name of the scheme: Mission Shakti Loan Scheme Odisha
- Launched by: Odisha government
- Launched on: 27th February 2024
- Introduced at: Lok Seva Bhavan Convention Centre in Bhubaneswar
- Objective: To provide interest-free loans
- Benefits: Interest-free loans up to Rs 10 lakh for Self-Help Groups (SHGs) in Odisha
- Beneficiaries: Women belonging to SHGs
- State: Odisha
- Official Website: Mission Shakti Odisha“
Objectives of Mission Shakti Loan Scheme Odisha
“Objectives of Mission Shakti Loan Scheme in Odisha
Under the distinctive livelihood program, the Mission Shakti Maa has facilitated government business support amounting to Rs 8,000 crore. Women are actively engaged in various initiatives with the Odisha government, contributing significantly to the development of Odisha. The remarkable efforts of Mission Shakti Ma have gained recognition not only nationally but also internationally.
The transformation of SHG women into SMEs, or small and medium-sized businesses represents their first step into the corporate world. Significant funding, amounting to Rs 730 crore, was set aside for blazers and uniforms to facilitate this shift. To establish 5,000 such bazaars and retail locations throughout the state in the next five years, Mission Shakti Bazaar was launched to promote and market goods made by these women.
Advantages of Mission Shakti Loan Scheme in Odisha
- Self-help group women are being sent on exposure tours to Singapore and Dubai, with the Chief Minister anticipating an increase in such opportunities in the future.
- Women who were once part of self-help groups are now employed in corporate roles and running businesses.
- Uniforms and blazers worth Rs 730 crore will be provided to 1.5 lakh SHG members and 70 lakh SHG members across the state.
- Over 2.75 lakh SHGs received a direct interest subvention of Rs 145 crore in their bank accounts.
- Women from SHGs are transitioning to SME groups, establishing connections within the corporate sector.
- A total of Rs 925 crore in interest subvention has been returned to SHGs over the last five years.
- Additionally, it was announced that the state would organize around 5,000 Mission Shakti Bazaars in the next five years.”
| Required Documents for Mission Shakti Loan Scheme |
|---|
| 1. Applicant’s Aadhar Card |
| 2. PAN Card |
| 3. Mobile number |
| 4. Email ID |
| Eligibility Criteria for Mission Shakti Loan Scheme |
|---|
| 1. Applicants must be permanent residents of Odisha state. |
| 2. Only women candidates are eligible for this scheme. |
| 3. Women must belong to SHGs. |
| Application Process of Mission Shakti Loan Scheme Odisha |
|---|
| 1. Go to the official website of the scheme. |
| 2. On the home screen, click on the apply option. |
| 3. A new page will open before you, enter all the required details carefully. |
| 4. Upload the necessary documents. |
| 5. Click on the submit option. |
| 6. Save the application form in PDF format for later use. |
| FAQ’s |
|---|
| 1. Can a woman outside Odisha state apply for Mission Shakti Loan Scheme? |
| To apply for Mission Shakti Loan Scheme, you need to be a resident of Odisha state. |
| 2. How much is the loan amount provided to SHG women? |
| Interest-free loans up to Rs. 10 lakhs will be provided to women. |
| 3. Can a male person apply for this scheme? |
| This scheme is categorically meant for women only. |
