MAHILA SAMRIDHI YOJANA

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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.

Implementation

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.