Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi has approved a proposal to continue the interest-free loan scheme for women-run self-help groups under Mission Shakti.
Earlier, the state government had allowed the interest-free loan for the WSHGs till March 31. However, with Majhi approving the proposal, the facility will continue for the 2025-26 fiscal and subsequent years, an official release said Tuesday.
Under the scheme, women’s self-help groups can take loans up to Rs 10 lakh without interest.
The chief minister said the initiative would help create more women entrepreneurs and ‘Lakhpati Didis’ in the state.
He said that the state’s rural and urban economies will be strengthened through women’s participation.
The interest-free loan scheme for WSHGs was first introduced by the then chief minister Naveen Patnaik in 2019.
The limit of interest-free loans was Rs 3 lakh for women’s SHGs under Mission Shakti programme. The interest subvention benefit on SHG loans was subsequently increased to Rs 5 lakh in April 2022 and up to Rs 10 lakh in February 2024.
PTI
