Ladki Bahin Yojana: The Maharashtra government is continuously taking new steps to economically empower women. Following the Chief Minister’s Majhi Ladki Bahin Yojana, the state government has now made another major announcement. The Women and Child Development Department, in collaboration with the Mumbai Bank, has launched an interest-free loan scheme for women who are beneficiaries of this scheme.
How much loan will be available and who will receive it?
According to official information, women can avail interest-free loans ranging from ₹10,000 to ₹1 lakh to start their own small businesses. This benefit will only be available to women registered under the ‘Ladki Bahin’ scheme and who already receive a monthly honorarium of ₹1,500.
Individual and Group Loan Facility
Under this facility, women can avail of a loan individually or jointly form a group of 2 to 10 members. Significantly, women will not have to run around for installment payments. The installments will be deducted directly from the monthly honorarium of ₹1,500.
E-KYC is now mandatory for monthly honorarium
Before this announcement, the government directed women receiving benefits under the scheme to complete their e-KYC on time. This was because of previous complaints of fake accounts and fake names. Now, e-KYC will confirm the identity of the real beneficiary and ensure that the funds are transferred directly to the correct account.
After completing e-KYC, women will receive ₹1,500 per month directly into their bank accounts. Additionally, they can take out an interest-free loan to open a small business, such as a tailoring shop, beauty parlor, or shop. This will help them run their households and empower them to become self-reliant.