MAHILA SAMRIDHI YOJANA
Ministry of Social Justice and Empowerment has introduced Mahila Samridhi Yojana for providing loan to women entrepreneur.
- National Backward Classes Finance and Development Corporation (NBCFDC) provide loans to small entrepreneurs belonging to the target group (backward classes) in order to cater the Micro Finance through self-help groups (SHGs) by State Channelizing Agency (SCA) under Micro Finance Scheme.
Self Help Groups (SHGs)
- Economically homogeneous and affinity group of poor people voluntarily formed Self-help groups to save and to contribute common funds to its members.
- Maximum number of women in one SHG is 20. In a SHG, 75% of members can be from Backward Classes and the remaining 25% members may be from other weaker section like SC or Handicapped.
Loan under Mahila Samridhi Yojana (MSY)
- Loans under MSY are provided through SCAs, Regional Rural Banks (RRBs) and Nationalized Banks to the target group.
- MSY loan is provided to Safai Karamchari and Scavenger and their dependants for projects with a maximum project cost up to Rs.60000 for small and petty business and sundry income generating activities.
- Channel Partners play a vital role through their field officers, encouraging people of the target group in forming Self-help groups and get financial assistance under MSY of NBCFDC.
Pattern of financing
- Loan will be provided up to 95% and balance 5% provided by the SCAs or Beneficiary contribution.
- Utilization Period is 4 months from the date of disbursement of the loan.
Repayment of Loan
- Loan need to be repaid in quarterly instalments within 4 years including the moratorium period of six months on the recovery of principal.
Eligibility for Mahila Samridhi Yojana
- Women entrepreneur belonging to backward classes only can apply for this scheme.
- Age of the woman should be 18 years
- Members of Backward Classes living below double the poverty line are eligible.
- Annual income of the women should be less than Rs.3 Lakhs per annum
National Backward Classes Finance and Development Corporation (NBCFDC)
- It is an organization under the aegis of Ministry of Social Justice and Empowerment.
- It promotes economic and developmental activities for the benefit of Backward Classes and to assist the poorer section of these classes in skill development and self-employment ventures.
- It provides financial assistance through SCAs nominated by the State Governments/ UTs.
- It also provides Micro Financing through SCAs/ SHGs.
- The Corporation can assist a wide range of income generating activities to assist the poorer section of these classes in skill development and self-employment ventures under following broad sectors :
- Agriculture and Allied Activities
- Small Business / Artisan and Traditional Occupation
- Service / Transport Sector etc.
- Technical and Professional Trades/Courses
Mahila Samridhi Yojana is another scheme by Ministry of Minority Affairs
- Under this scheme, skill development training is imparted to group of women in women friendly trades. Training period is of maximum 6 months with training & raw material cost of upto Rs.1, 500 per women while stipend @ Rs.1, 000 is available for each woman.
- During the period of training, the women are formed into Self Help Group, followed by infusion of micro-credit maximum upto Rs.1.00 lacs per member for the purpose of using the skill developed during the training, for income generation activities.