Odisha Mission Shakti Loan Scheme 2024: Apply for Interest Free Loan, Eligibility

The Chief Minister of Odisha launched the Mission Shakti Loan Scheme at a special event held in Bhubaneswar. This initiative aims to provide interest-free loans of up to Rs. 10 lakh to women across 70 lakh Self-Help Groups (SHGs) in the state. In addition to financial support, the programme also offers uniforms and blazers for the women involved in the Mission Shakti initiative. Furthermore, an interest repayment plan worth Rs. 145 crore has been introduced to assist with the scheme's implementation. For more details, read the article below on the Mission Shakti Loan Scheme.

Mission Shakti Loan Scheme Odisha 2024

The Mission Shakti Loan Scheme was launched by Chief Minister Naveen Patnaik at a ceremony held at the Lok Seva Bhavan Convention Centre in Bhubaneswar. Under this initiative, eligible women will have access to interest-free loans of up to Rs 10 lakh, along with additional support in the form of blazers and uniforms. The scheme aims to empower around 70 lakh women from Odisha’s Self-Help Groups (SHGs). This financial assistance provides greater economic independence for women, strengthening their roles in society. This year, the SHGs have been allocated a loan amount of Rs 15,000 crore, with a further Rs 75,000 crore set to be provided over the next five years.

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Mission Shakti Loan Scheme Details in Highlights

Objectives of Mission Shakti Loan Scheme Odisha 2024

The Mission Shakti Loan Scheme in Odisha 2024 is a transformative initiative aimed at empowering women through a range of livelihood opportunities. Under this unique programme, the Odisha government has extended business support worth Rs 8,000 crore to women. Through this scheme, women across Odisha are collaborating with the government on various developmental projects, significantly contributing to the state's growth. The efforts of Mission Shakti Maa have gained national and even international recognition for their positive impact.

One of the key goals of this scheme is to transform women from Self-Help Groups (SHGs) into entrepreneurs, enabling them to operate small and medium-sized enterprises (SMEs). To support this transition, the government has allocated Rs 730 crore specifically for uniforms and blazers for the women involved. Additionally, the Mission Shakti Bazaar initiative has been introduced with the objective of establishing 5,000 retail locations and bazaars across Odisha over the next five years, offering a platform to promote and sell products crafted by these empowered women.

Odisha Inter Caste Marriage Scheme

Benefits of Mission Shakti Loan Scheme Odisha 2024

The Mission Shakti Loan Scheme in Odisha 2024 offers several significant benefits aimed at empowering women and enhancing their economic participation. Here are some of the key benefits of the scheme:

• International Exposure for Women: As part of the programme, women from self-help groups (SHGs) are traveling to global destinations like Singapore and Dubai for exposure tours. The Chief Minister has expressed confidence that more women will have opportunities to travel abroad in the future, gaining invaluable experience.
• Increased Corporate Participation: Women who were once part of SHGs are now working in established corporations and running their own businesses, thanks to the opportunities provided by the scheme.
• Uniforms and Blazers: The state government has allocated Rs 730 crore to provide uniforms and blazers to approximately 1.5 lakh SHG members, boosting their professional image and supporting their participation in business activities.
• Interest Subvention: Over 2.75 lakh SHGs have received direct interest subventions amounting to Rs 145 crore, which has been credited to their bank accounts. This financial support helps strengthen the financial sustainability of these groups.
• Transition to SMEs: Women from SHGs are progressively transitioning into small and medium-sized enterprises (SMEs), with many now connected to the corporate sector, further expanding their business prospects.
• Cumulative Interest Subvention: In the past five years, SHGs have received a total of Rs 925 crore in interest subvention, ensuring they are financially supported to grow their businesses.
• Mission Shakti Bazaars: As part of the scheme, the state plans to set up around 5,000 Mission Shakti Bazaars over the next five years. These bazaars will serve as key platforms for promoting and selling products made by SHG women, fostering local entrepreneurship.

This initiative not only supports women economically but also helps them integrate into the broader business ecosystem, creating lasting socio-economic impacts across Odisha.

Eligibility Criteria for Mission Shakti Loan Scheme

The eligibility criteria for the Mission Shakti Loan Scheme in Odisha 2024 are as follows:

• Permanent Residency: Applicants must be permanent residents of Odisha state.
• Gender: The scheme is exclusively for women; only female candidates are eligible to apply.
• Membership in SHGs: Applicants must be members of Self-Help Groups (SHGs) to qualify for the scheme.

These criteria ensure that the scheme benefits women who are directly involved in community-based organizations, helping them gain financial support and opportunities for growth.

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Documents Required

Following are the documents required for the scheme

• Applicants Aadhar Card
• PAN Card
• Mobile number
• Email ID

Application Process of Mission Shakti Loan Scheme Odisha 2024

The application process for the Mission Shakti Loan Scheme in Odisha 2024 is simple and straightforward. Follow these steps to apply:

• Visit the Official Website: Go to the official website of the Mission Shakti Loan Scheme.
• Click on the Apply Option: On the homepage, locate and click on the "Apply" option to begin the application process.
• Enter Required Details: A new page will open where you need to fill in all the necessary details accurately.
• Upload Documents: Upload the required documents as per the instructions provided on the application form.
• Submit the Application: After filling in the details and uploading the documents, click on the "Submit" button to complete your application.
• Save the Application: Once the application is submitted, save a copy of the application form in PDF format for future reference.

By following these steps, you can successfully apply for the Mission Shakti Loan Scheme and access the benefits provided under the scheme.

Summary of Odisha Mission Shakti Loan Scheme

The Odisha Mission Shakti Loan Scheme, launched by Chief Minister Naveen Patnaik, aims to empower women by providing interest-free loans of up to Rs. 10 lakh to members of 70 lakh Self-Help Groups (SHGs). In addition, the scheme offers uniforms, blazers, and financial assistance for business growth. The initiative also includes interest subventions, exposure tours, and plans to establish 5,000 Mission Shakti Bazaars across the state.