Mission Shakti Loan Scheme 2024 Apply Online, Odisha Government offering Interest Free Loan

Mission Shakti Loan Scheme: Odisha’s Chief Minister launched the Mission Shakti loan program in Bhubaneswar. This scheme offers interest-free loans up to Rs. 10 lakh to women in 70 lakh self-help groups (SHGs) in Odisha. It also provides support for uniforms and blazers to Mission Shakti women, along with a plan to repay Rs. 145 crore in interest. Keep reading to know more about the Mission Shakti Loan Scheme.

Mission Shakti Loan Scheme 2024

During an event at the Lok Seva Bhavan Convention Centre in Bhubaneswar, Chief Minister Naveen Patnaik introduced the Mission Shakti loan initiative. Under this scheme, eligible women can avail interest-free loans of up to Rs. 10 lakh, along with assistance in the form of blazers and uniforms. This initiative aims to support 70 lakh women in self-help groups (SHGs) across Odisha. With this interest-free loan program, mothers now have more financial empowerment and stronger resources. This year, SHGs have been allocated a loan amount of Rs. 15,000 crore, with an additional Rs. 75,000 crore to be disbursed over the next five years.

The Objectives of Mission Shakti Loan Scheme Odisha

As part of an innovative livelihood program, Mission Shakti Maa has provided the government with business assistance totaling Rs. 8,000 crore. Women are actively collaborating with the Odisha government on various initiatives, shaping the future of the state. The remarkable efforts of Mission Shakti Maa have garnered recognition not only nationally but also internationally.

The transition of Self-Help Group (SHG) women into Small and Medium Enterprises (SMEs) marks their entry into the corporate world. A substantial fund of Rs. 730 crore has been allocated for providing blazers and uniforms to facilitate this transition. Additionally, Mission Shakti Bazaar has been launched to establish 5,000 such marketplaces and retail outlets across the state over the next five years, promoting and selling products crafted by these women.

Key Benefits of the Scheme Mission Shakti Loan Scheme

Here are the benefits of the scheme:

• Self-help group women are going on exposure tours to Singapore and Dubai, with the Chief Minister mentioning that more women will have opportunities to travel abroad in the future.
• Women who were once part of self-help groups are now employed in companies and running their own businesses.
  A sum of Rs. 730 crore has been allocated to provide uniforms and blazers to 1.5 lakh SHG members and 70 lakh SHG members in the state.
• More than 2.75 lakh SHGs have received direct interest subsidies totaling Rs. 145 crore in their bank accounts.
• Women from SHGs are transitioning to Small and Medium Enterprises (SMEs), integrating into the corporate sector.
• A total of Rs. 925 crore in interest subsidies has been returned to SHGs over the past five years.
• The state plans to organize approximately 5,000 Mission Shakti Bazaars over the next five years to support SHGs further

Odisha Mission Shakti Loan Scheme Eligibility Criteria

Here are the eligibility criteria for the scheme:

• Applicants must be permanent residents of Odisha state.
• Only women candidates are eligible for this scheme.
• Women must belong to Self-Help Groups (SHGs).

Mission Shakti Loan Scheme Online Apply Process

To apply for the Mission Shakti Loan Scheme, follow these steps:

• Visit the official website of the scheme.
• On the homepage, click on the “Apply” option.
• Fill in all the required details carefully on the new page that opens.
• Upload the necessary documents as instructed.
• Click on the “Submit” option to complete the application process.
• Save the application form in PDF format for future reference.