Mahatari Shakti Loan Yojana is a significant initiative launched by the Chhattisgarh government, aimed at economically empowering women beneficiaries. Under this scheme, eligible women can avail loans between Rs. 10,000 and Rs. 25,000 for initiating and managing self-employment businesses. With this scheme, the government aims to uplift women, particularly those who are already part of the Mahatari Vandan Yojana.
The Mahatari Shakti Loan Yojana focuses on women who receive monthly assistance of Rs. 1,000 through the Mahatari Vandan Yojana. This support is designed to enhance financial independence and encourage entrepreneurial aspirations. The launch event featured Finance Minister OP Chaudhary and State Rural Bank Chief Vinod Arora, emphasizing the government’s commitment to boosting women’s economic involvement.
Overview of Mahatari Shakti Loan Yojana
Mahatari Shakti Loan Yojana is an essential program initiated by the BJP-led Chhattisgarh government aimed at promoting the economic empowerment of women. This scheme provides financial assistance in the form of loans, specifically targeting eligible women already receiving support under the Mahatari Vandan Yojana. Those eligible can utilize these loans to kickstart their self-employment ventures. With about 70 lakh beneficiaries under the Mahatari Vandan Yojana, 17.5 lakh women qualify for this loan option.
The initiative is targeted at enabling women to achieve financial self-sufficiency and contribute to their local economies through entrepreneurship. By launching this project, the government aspires to enhance the economic landscape for women in Chhattisgarh.
Goals of the Mahatari Shakti Loan Yojana
- To economically empower women across Chhattisgarh.
- To facilitate self-employment opportunities for women.
- To support beneficiaries of the Mahatari Vandan Yojana in attaining financial independence.
- To amplify women’s engagement in the state’s economic development.
Essentials of Mahatari Shakti Loan Yojana
| Scheme Name | Mahatari Shakti Loan Yojana |
|---|---|
| Launched By | BJP-led Chhattisgarh Government |
| Target Beneficiaries | Women under Mahatari Vandan Yojana |
| Eligibility Criteria | Account in State Rural Bank |
| Loan Amount | Rs. 10,000 to Rs. 25,000 |
| Purpose | Self-employment ventures |
| Eligible Beneficiaries | 17.5 lakh from 70 lakh Mahatari Vandan beneficiaries |
| Inaugurated By | Finance Minister OP Chaudhary and Vinod Arora |
| Objective | Empowerment and financial independence of women |
| Application Mode | Details to be announced |
| Official Website | Details to be announced |
Eligibility Requirements
- Must be a beneficiary of the Mahatari Vandan Yojana.
- Eligible to receive Rs. 1,000 monthly assistance.
- Have an active account in State Rural Bank.
- Only women applicants qualify.
- Loan amount must be between Rs. 10,000 and Rs. 25,000.
Benefits of Mahatari Shakti Loan Yojana
- Provides necessary financial aid for starting self-employment.
- Loans range from Rs. 10,000 to Rs. 25,000.
- Helps women gain financial autonomy.
- Encourages female entrepreneurship in rural regions.
- Benefits 17.5 lakh eligible women with State Rural Bank accounts.
- Enhances women’s active role in the state’s economy.
- Promotes self-sufficiency and economic development among beneficiaries.
Loan Amount Details
The loan amount available under the Mahatari Shakti Loan Yojana for eligible women ranges from Rs. 10,000 to Rs. 25,000.
Necessary Documentation
- Aadhaar Card
- Address Proof (e.g., utility bill)
- Recommendation from Village Sarpanch
Selection Process for Beneficiaries
- Loans are to be repaid over 48 months (4 years) in monthly installments.
- The amount for each installment may vary; there is no fixed EMI.
- Interest will be calculated on the remaining balance post every repayment.
- Minimum interest rate is set at 7% of the loan amount.
- Beneficiaries must enroll for life insurance of Rs. 2,00,000 under PM Suraksha Bima Yojana, with a monthly premium of Rs. 20.
- Eligibility for continuing to receive Rs. 1,000 monthly under the Mahatari Vandan Yojana.
- Chhattisgarh Rajya Gramin Bank (CRGB) sponsors loans, backed by State Bank of India.
How to Apply for Mahatari Shakti Loan Yojana 2025
STEP 1: Ensure you have an account in the State Rural Bank.
STEP 2: Obtain the application form from the relevant bank branch.
STEP 3: Submit all required documents along with the completed application form.
STEP 4: Finalize your application by submitting the form and documents to your bank.
STEP 5: Upon verifying eligibility, the loan amount will be deposited into your bank account.
Frequently Asked Questions (FAQs)
Who can benefit from the Mahatari Shakti Loan Yojana?
This scheme is available for women who are beneficiaries of the Mahatari Vandan Yojana and have an account with the State Rural Bank.
What is the loan amount provided under this scheme?
The loan amount ranges from Rs. 10,000 to Rs. 25,000 for eligible beneficiaries.
How do beneficiaries repay the loan?
Loan repayments occur in 48 monthly installments over four years, with a flexible EMI amount each month.
What is the interest rate associated with the loan?
A minimum interest rate of 7% is applicable, calculated on the outstanding loan balance after each payment.
Which institution disburses the loans?
Loans will be managed by Chhattisgarh Rajya Gramin Bank (CRGB), with the support of the State Bank of India.
Can beneficiaries still receive their monthly assistance while repaying the loan?
Yes, beneficiaries will continue to receive Rs. 1,000 monthly assistance under the Mahatari Vandan Yojana during the loan repayment.