Ladki Bahin Yojana: The Maharashtra government is continuously taking new steps to economically empower women. Following the Chief Minister ‘s Ladki Bahin Yojana, the state government has now made another major announcement. The Department of Women and Child Development, in collaboration with the Bank of Mumbai, has launched an interest-free loan scheme for women who are beneficiaries of this scheme.
How much loan will be available and to whom?
According to official information, women can avail of interest-free loans ranging from 10,000 rupees to 100,000 rupees to start their own small businesses. This benefit is available only to women registered under the “Ladki Behen” scheme and already receiving a monthly honorarium of 1,500 rupees.
Individual and group loan facility
Under this facility, women can take out a loan individually or form a group of 2 to 10 members to receive a loan jointly. The special thing is that women don’t have to run around to pay installments. The installments will be deducted directly from their monthly honorarium of Rs. 1,500.
E-KYC is now mandatory
Prior to this announcement, the government directed women beneficiaries to complete their e-KYC process promptly . This was because there had been several 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.