Daughters' Wallet: A fantastic opportunity to start your own business; the government is offering ₹25,000...
The government provides financial assistance to the nation's daughters through various schemes. As part of this initiative to empower women financially, the 'Mahtari Shakti Rin Yojana' (Mahtari Shakti Loan Scheme) has been launched. Under this scheme, eligible women can obtain a loan of up to ₹25,000 without any guarantee or collateral to start a small business or self-employment venture. In other words, a woman does not need to pledge any assets to start a business.
This scheme was launched in late November 2024. It offers loans ranging from a minimum of ₹10,000 to a maximum of ₹25,000. Borrowers are allowed up to 48 months (4 years) to repay the loan, which carries an annual interest rate of approximately 7 percent. However, not every woman is eligible for the scheme; meeting certain mandatory conditions is required.
**Loan Amount and Conditions**
Under the Mahtari Shakti Rin Yojana, eligible women are granted loans between ₹10,000 and ₹25,000. A key feature is that no guarantee or collateral (pledging of assets) is required. The loan amount can be repaid over a period of up to 48 months, with an annual interest rate of around 7 percent. The scheme aims to provide financial support to women for starting small-scale ventures. This enables them to launch home-based businesses or establish small enterprises tailored to their needs.
**Who Can Avail the Benefits of the Scheme?**
To benefit from this scheme, a woman must be a native resident of Chhattisgarh. Additionally, she must already be a beneficiary of the 'Mahtari Vandan Yojana'. This means only women currently receiving government financial assistance under the Mahtari Vandan Yojana are eligible for this loan scheme. Another mandatory condition is that the woman must hold a bank account with the Chhattisgarh Rajya Gramin Bank. The funds from the Mahtari Vandan Yojana are credited to this specific account. Therefore, eligible women should verify all these conditions before applying. What documents are required for the application?
Certain essential documents must be submitted when applying for the loan. These include an Aadhaar card and proof of residence or address. Documents such as an electricity bill can be used to verify the address. Additionally, a recommendation letter from the Sarpanch or the head of the local body is required. The woman must also provide details of her Chhattisgarh Rajya Gramin Bank account. Keeping all documents ready before applying can facilitate the completion of the process.
Where can one get information?
For further information regarding the scheme, one can visit the official websites of the Department of Women and Child Development, Chhattisgarh, and the Chhattisgarh Rajya Gramin Bank. Notably, the bank has issued a toll-free number, 18002332300, for assistance. Information can also be obtained by sending an email to [care@cgbank.in](mailto:care@cgbank.in).
Disclaimer: This content has been sourced and edited from News18 Hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
