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This micro-financing initiative aims to empower women from underprivileged backgrounds or economically weaker sections by providing them Read More... with loans at a nominal interest rate to achieve their business dreams and financial independence. Read less

Details

The Indian government, through the National Backward Classes Finance and Development Corporation (NBCFDC) under the Ministry of Social Justice and Empowerment, runs the Mahila Samriddhi Yojana (MSY). This scheme is all about supporting women who want to start or grow their own businesses.

What is the Mahila Samriddhi Yojana?

Mahila Samriddhi Yojana is a special microfinance program designed to give women entrepreneurs, especially those from backward or low-income families, a financial push. The scheme focuses on providing training and financial aid to help women become self-reliant.

Who Can Benefit from this Scheme?

This scheme is mainly for women. It specifically targets Self-Help Groups (SHGs) that include women, and individual women belonging to economically and socially backward classes, including Scheduled Castes (SC) and Scheduled Tribes (ST) categories.

Why is this Scheme Important?

The MSY is crucial for fostering an entrepreneurial spirit among women from rural and underprivileged sections of society. By offering loans at lower interest rates and encouraging financial independence, it helps women overcome social barriers and build their own futures.

Objective

This micro-financing initiative aims to empower women from underprivileged backgrounds or economically weaker sections by providing them with loans at a nominal interest rate to achieve their business dreams and financial independence.

Benefits

Assistance of upto ₹8,000/- per month is granted in the form of a monthly allowance or lump sum grant or both, disbursed via the Public Financial Management System (PFMS)/ Direct Benefit Transfer (DBT).

Sources and references

Guidelines

Eligibility Criteria for Mahila Samriddhi Yojana

Applicants must be between 18 and 55 years of age.
The scheme is open to women from low-income families or those belonging to SC/ST/OBC categories, as officially notified. Their family income should be less than Rupees three lakhs per annum.
Women who are looking to start their own business or engage in income-generating activities are eligible.

How to Apply for Mahila Samriddhi Yojana

Interested women should form or join a Self-Help Group (SHG) or approach their nearest State Channelizing Agency (SCA).
Applications are typically submitted through these SCAs, which are the implementing partners nationwide.
For specific application details and forms, contact the relevant SCA in your state or visit the official NBCFDC website.

Official Website: https://www.nbcfdc.gov.in/

Documents Required for Mahila Samriddhi Yojana

Proof of Identity (e.g., Voter ID, Driving License)
Proof of Address (e.g., Aadhaar Card, Utility Bill)
SHG Membership ID (if applicable)
Caste Certificate (if you belong to SC/ST/OBC category)
Income Certificate issued by a competent authority
Aadhaar Card
Bank Account Details (Passbook copy)
Recent Passport Size Photographs

FAQ’s

What is the primary goal of the Mahila Samriddhi Yojana?

The main aim of the Mahila Samriddhi Yojana is to encourage women from minority groups and underprivileged backgrounds in rural areas to become entrepreneurs. It helps them achieve their business goals by providing microfinance loans at lower interest rates.

How much financial assistance can women receive under this scheme?

Under the Mahila Samriddhi Yojana, women can receive financial assistance up to a maximum of Rs. 1,40,000/-. This is a microfinance scheme with a special interest rebate.

What is the repayment period for loans given under the scheme?

The repayment period for loans taken under the Mahila Samriddhi Yojana is within 3.5 years. This period includes any initial moratorium and payments are to be made in quarterly installments from the date of each disbursement.

Are there any age restrictions for applying to the Mahila Samriddhi Yojana?

Yes, applicants for the Mahila Samriddhi Yojana must be between 18 and 55 years of age to be eligible.

What are the interest rates for the loans provided?

The interest rate charged to State Channelizing Agencies (SCAs) is 1% per annum. The beneficiaries, in turn, are charged an interest rate of 4% per annum.

Can women from all income groups apply for this scheme?

No, the scheme is specifically for women from low-income families or those belonging to SC/ST/OBC categories whose family income is less than Rupees three lakhs per annum.

What is the role of Self-Help Groups (SHGs) in this Yojana?

The Mahila Samriddhi Yojana aims to strengthen and assist Self-Help Groups (SHGs), especially those comprising women. These groups are formed into SHGs, and after training, micro-credit is provided to them.

Can I get a loan if I am not from SC/ST/OBC background?

The scheme primarily targets women from SC/ST/OBC categories or those from low-income families. Your family income needs to be less than Rupees three lakhs per annum to be considered.