How to get loan under Mahila Samridhi Yojana to start business
Mahila Samridhi Loan Scheme 2023
(Mahila Samriddhi Scheme or MSY Features, Benefits, how to apply, application document)
Today women have not remained only as housewives, but today women are doing their own employment, albeit small. Be it any field, the contribution of women is no less than that of men. In such a situation, if some women in the country, who belong to the backward class, it becomes difficult for them to fulfill their dreams due to their economic weakness. But the central government has started 'Mahila Samridhi Yojana' to help the women entrepreneurs, under which they will be provided loans. This scheme is a microfinance scheme for women. Through this loan scheme, the female beneficiary will be helped to fulfill her dream. Let us give you its information in this article.
What is Mahila Samridhi Yojana?
With the objective of encouraging women entrepreneurs and promoting their business, the Ministry of Social Justice and Empowerment, Government of India has implemented a strategic policy - Mahila Samridhi Yojana. Under the visionary scheme, the government provides financial assistance to women businessmen who come from the marginalized sections of the society. In view of women empowerment, this scheme is being implemented by various channel partners across the country. Under the scheme, women beneficiaries are identified and given loans either directly or in the form of Self Help Groups (SHGs).
Objective of Mahila Samriddhi Scheme Objectives
The main objective of this micro finance scheme is that the National Backward Classes Finance and Development Corporation (NBCFDC) to meet the needs of micro finance of small entrepreneurial women belonging to economically weaker and backward classes of rural and urban areas. Loan will be provided to them by This loan is to be provided to women either directly or through Self Help Groups (SHG's).
other important information
What are Self Help Groups (SHGs)? (What is SHG?)
Economically similar caste and related group of poor people have voluntarily formed Self Help Groups, so that they can save the common funds of their members.
What are channel partners? (What is Channel Partners?)
Channel partners who play an important role through their field officers, encourage the targeted backward and economically weaker sections to form self-help groups. And provide financial assistance under this scheme. The channel partners in this scheme are National Backward Classes Finance and Development Corporation (NBCFDC).
The maximum number of members in the self-help group has been fixed at 20. In which each self-help group will have 60 percent people belonging to backward classes and the remaining 40 percent people from weaker sections, who can be from SC or disabled or minority.
Ration Member :
As per the rules and regulations, a maximum of 20 women members are allowed in SHGs, out of which 75% members should be from backward classes, which is mandatory in the eligibility conditions, while the remaining 25% women members should be from other weaker sections – SC or Physically Challenged Should be included with disabilities.
Loan Transfer:
The loan is disbursed to the beneficiaries through State Channelising Agencies (SCAs), Regional Rural Banks (RRBs) and Nationalized Banks.
Features and Benefits of Mahila Samridhi Yojana for Business (Mahila Samridhi Yojana Features and Benefits)
Mahila Samriddhi Yojana is the flagship scheme of the Ministry of Social Justice and Empowerment, Government of India and has played a vital role in changing the lives of hundreds of women across India, some of its features and benefits are as follows:
Help to the people of low caste and backward class:- By starting this scheme, the central government wants to help women entrepreneurs belonging to low caste and backward class.
Promotion of women entrepreneurs:- Through this scheme, women entrepreneurs are being promoted in the country by the central government. This will increase the number of women in this field and they will become self-reliant and empowered, as well as their self-confidence will also increase.
Increase in employment opportunities :- Through this assistance to women entrepreneurs, more employment opportunities will be created in women.
Maintenance of the scheme : - This scheme is being supervised by the Ministry of Social Justice and Empowerment Development, Government of India.
Investment: - In this scheme, the beneficiary women do not have to pay any amount on the project worth up to Rs.2 lakh.
Changes the socio-economic status of the beneficiary
Makes women empowered and independent
Increases self confidence in women
Loan and interest rate under Mahila Samridhi Yojana Loan and Interest Rate for Business to start business
Total loan amount :- In this scheme, women entrepreneurs who take loan can also be a cleaning worker, as well as this scheme is also for small business and miscellaneous income generating activities. In this, the maximum loan amount that the beneficiaries will get is Rs.60,000.
Distribution of loan amount:- Loans given to the applicants under this scheme are to be given through State Channelising Agencies, Regional Rural Banks and Nationalized Banks. Therefore, according to the guidelines of this scheme, the applicants will be sanctioned up to 95% of the loan under the scheme, while the remaining 5% will be funded by the State Channelising Agencies. Along with this, they will have to use the loan received within 4 months, which will start from the date of getting the loan.
Repayment of loan:- Beneficiaries have been given a moratorium period of 6 months as well as a period of 4 years to repay the loan amount under this scheme, in which they can repay this amount in installments of every 3 months. This period will start from the day money is transferred to the beneficiary's bank account.
Interest rate :- The interest rate on the loan amount provided to the beneficiaries from the National Backward Classes Finance and Development Corporation (NBCFDC) is 1%, while the interest rate affected on the loan amount provided to the beneficiary from the State Channelising Agencies is 4%. Huh.
Eligibility criteria for Mahila Samridhi Yojana Eligibility Criteria
Since the MSY scheme aims to make a difference in the lives of marginalized women of the society, there are stringent eligibility criteria to ensure that the loans reach the right people. Eligibility conditions include:
Women belonging to backward classes: - In this scheme, such women who belong to the backward castes notified from time to time by the Central and State Government, and live twice below the poverty line, are eligible to take advantage of this scheme.
Income Eligibility:- Such women whose annual family income is less than Rs.3 lakh, they are being given permission by the Central Government to apply in this scheme. But if the annual family income of the woman is Rs.1.5 lakh or less, then 50% of the amount will be provided by the bank or state channelizing agency.
Age Limit :- To get the benefit of Iya Yojana, the minimum age of beneficiary women entrepreneurs should not be less than 18 years.
Criminal Case: - If there is any criminal case going on against the beneficiary woman, then she will not be considered eligible to get the benefit of this scheme.
Documents required for application in Mahila Samridhi Yojana (Mahila Samridhi Yojana Required Documents)
Beneficiary's identity and residence certificate: - To apply in this scheme, the beneficiaries will have to attach photocopies of voter ID card, Aadhaar card and ration card etc. as proof of residence in the form.
Proof of Joining the Self Help Group:- When the beneficiary women want to take advantage of this scheme by joining a self help group, then they should also have ID card of the membership to give proof of membership of the self help group to apply in it. have to be shown.
Income Certificate :- Such women are eligible to join this scheme whose income comes within the income limit fixed in this scheme. That's why those women will need income certificate to apply in this scheme.
Age Certificate:- Women entrepreneurs who are beneficiaries of this scheme can use photocopy of birth certificate for proof of their age.
Caste Certificate: – Since this scheme is only for backward class, minority, disabled or SC category women. That's why those women will also have to provide proof of their caste during the application.
Bank Account Information :- In this scheme, the loan amount will be provided in the account of those women beneficiaries who have bank accounts. For this it is necessary that the beneficiary should provide some information related to that account. So that money can reach their account successfully.
Passport size photo :- When the beneficiary women will go to fill the form of this scheme, then in that form they will be asked for their passport size photo. They must also keep this document with them.
How to apply for Mahila Samriddhi Yojana loan? (How to apply Mahila Samridhi Yojana Loan?)
To apply in this scheme, eligible women entrepreneurs will first have to go to the office of the State Channelising Agency (SCA). From there you will get the application form for this Mahila Samriddhi Yojana.
In this form you will be asked some information about your enterprise and yourself. You fill all that information. Apart from this, you can also mention the training requirements and employment by selecting them.
After all this is done, attach the photocopies of all the documents with this form. And submit that form to the same State Channelising Agency (SCA) office.
After this all your documents will be reviewed by the concerned officer. And then the loan will be approved by the State Channelising Agency (SCA).
Therefore, in this way, the beneficiary women entrepreneurs will be able to take advantage of this scheme by adopting all the steps given above.
Note :- For more information about Mahila Samridhi Yojana, you can contact the District Collector or District Manager.
FAQ’s
Related questions
Q: I am a general category woman and want to get a loan under Mahila Samridhi Yojana, so is it possible?
Ans: No, it has been prescribed in the guidelines of this scheme that the beneficiary should belong to backward caste or scheduled caste only.
Q: Is it necessary to have a below poverty line section to get Mahila Samriddhi Yojana loan?
Ans : Yes, the female beneficiary should be from BPL category only.
Q : I am a part of a self help group but I do not have Aadhaar card and ID proof so can I avail the loan?
Ans : It is not difficult these days to get Voter ID card like Aadhaar and other ID proofs, and it is linked with the concerned authority. Mahila Samriddhi Yojana loan cannot be sanctioned without Aadhaar and Voter ID card.
Q: What is the last period for loan repayment?
Ans: The loan availed under this scheme can be repaid within 4 years i.e. within 48 months in installments of 3 – 3 months, which also includes the moratorium period of 6 months available under the scheme.
Q: When we talk about Mahila Samridhi Yojana, what is meant by target group?
Ans: In Mahila Samridhi Yojana, the target group means the women of the backward class of the society and the group of women coming twice below the poverty line.
Q: What is the tenure of loan in Mahila Samriddhi Yojana?
Ans: The loan usage period in this scheme will start from the day you receive the loan amount and will be valid for the next 4 months. During this period, the beneficiary will have to utilize the loan amount and also complete the formalities of utilization.
Q : I belong to backward caste of the society, but I do not have caste certificate, what should I do for this?
Ans: As per the protocol of this scheme, caste certificate issued by the competent authority is mandatory. You can approach the designated department to get caste certificate.
Q : I am a general category girl; My mother wants to avail MSY loan. Is it possible?
Ans: According to the fixed rules, the beneficiary should belong to backward caste or scheduled caste.
Q : Is it mandatory for the beneficiary to be Below Poverty Line (BPL) to avail the MSY loan?
Ans : Yes, the female beneficiary should be from BPL category.
Q: What is the loan repayment tenure?
Ans : The NAV availed under the SMY scheme can be repaid in EMIs within 48 months including the moratorium period of 6 months available under the scheme.
Q : I belong to a backward class of society but I do not have caste certificate. What should I do?
Ans: As per the protocol of MSY, caste certificate issued by the competent authority is mandatory.
Q : How to get loan to ladies?
Ans: Mudra Loan Scheme for Women (PMMY) is special because in this scheme, Mudra loan is provided to women applicants on a priority basis. Pradhan Mantri Mudra Yojana is a business loan scheme. In this government loan scheme, MSMME businessmen get business loans of up to Rs 10 lakh in three categories without any collateral.
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