Odisha Mission Shakti Loan Scheme 2022: Best Scheme for Women Empowerment

Odisha Mission Shakti Loan Scheme 2022 | Mission shakti loan schemes Online Registration

The Odisha government is taking major steps for the empowerment of women. In India, Women have a lot of struggles in their life. Recently the chief minister of Odisha Shri Naveen Patnaik Launched an Odisha Mission shakti loan for women with the objective of giving them a better livelihood. Today we are going to talk about the major roles of the mission shakti loan initiative. To know more about the mission shakti loan initiative objective, Online Registration, and Benefits, Read the article till last.

What is the Odisha Mission Shakti Loan Scheme?

The Odisha government launched this Scheme for women’s empowerment in the state. Under this Scheme, the SHG-Bank Linkage Programme is a major Financial Inclusion initiative. This scheme assures credit to the SHGs members. In earlier 2013, the loan was given at an annual interest of 2% for up to a loan of 3 lakhs, then this Scheme revised its interest rate to only 1% for loans up to 3 lakhs.

In 2019, the Odisha government decided to scrap any interest for the loan of 3 lakhs, which resembles Mission Shakti Loan Scheme as a welfare scheme for women, under the mission Shakti loan Scheme, women will get interest-free loans to start their own businesses. To create more awareness among women, the banks are taking steps forward and they are giving information about the mission of Shakti through which women can get benefited under this

Mission Shakti Loan Scheme Overview

Objectives of the Odisha Mission Shakti Loan Scheme

• To increase the capital investment in the livelihood of the women for the improved quality of life.
• To decrease the burden of loans on SHGs women, which will result in a better investment.
• To enhance the credit facility for both Rural and Urban women at an affordable cost.
• To create an environment for women for better productivity and vulnerability.
• The effective rate of interest will be Zero and other conditions will be the same.
• To ensure the better livelihood of women under Odisha’s livelihood mission.
• To build Financial compatibility and self-confidence in them and leverage internal savings and internal lending.
• To ensure free banking services are available for the SHGs.

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Benefits of Odisha Mission Shakti Loan Scheme 2022

• About 70 lakh women have benefited under the Mission shakti loan Scheme. This scheme has been a boon for women in both Rural and Urban areas. Under mission shakti loan schemes, women of Odisha have taken major steps in income-generating activities Such as Agricultural, poultry farms, Apiculture, Badi and Pampad making, Bamboo crafts, Candle Making, Chhatra Making, Civil Construction, Door Mat Making, Flour mill, Floriculture, Fly Ash Brick Business, Goatery, Horticulture, Handloom, Incense sticks making, Livestock rearing.

• They have also taken major steps in Tailoring, tent house business, restaurant, sweet, snacks, jewelry, Stone carving, wood carving, and cosmetics business.  These are the main focus areas for women to invest their money.

• There will be an interest-free credit facility of up to Rs. 3 lakh without any Interest and using this money, women can take major steps toward self-dependence and can lead a better-empowered life.

Mission Shakti Loan Scheme 2022: Eligibility

• Women must be members of any Self Help Group.
• Women must be residents of Odisha.
• The Self Help group should be active during the application of loans.
• SHG must have a bank account in a particular bank to which they are applying.
• Documents should be matched with your application, providing wrong information will lead to the cancelation of the application.

Odisha Mission Shakti Loan Scheme 2022 Online Registration

• In order to get registered for the Mission Shakti loan, You have to visit the Official Website.
• You can check eligibility details on the homepage.
• After checking eligibility, You can download the application form.
• You should give the correct information and Documents.
• Click on the Registration button.
• Fill in your details and Click on the submit button.
• Now download the application form and submit it to your nearest office.

Documents Required For Credit under Mission Shakti Loan Scheme

• Aadhar Card
• Pan card
• SHG name
• Bank account number
• Bank Passbook
• Ration card
• Odisha domicile Certificate
• Mobile number
• Ration card
• Identity card
• Voter Id card
• Address proof
• Date of Birth Proof

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21814 SHGs sanctioned with ₹529.47 Crore under Mission Shakti Loan Scheme

In Recent surveys, the Government of Odisha has recommended 21814 crore SHGs to banks for a credit facility and they were sanctioned with a total amount of ₹529.47 crores. This credit facility will change women’s lives into a sustainable livelihood. They also get a longer time duration today back the loan amount. The main thing about this amount is that this credit amount is totally free of any type of interest. Hence women don’t have to worry about the interest on loans.

About 70 lakhs Phones have been distributed under the Mission Shakti Loan Scheme

The Odisha government has decided to teach digital literacy to women, Hence the Government of Odisha distributed mobile phones to 70 lakhs women in the state. Women will be able to do online transactions through their Mobile, they will be able to know more about the Government Policies, New Schemes and they will be able to know about digital literacy and financial literacy.

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