Interest Free Loan: The government is providing interest-free loans to empower women financially. This initiative, known as Lakhpati Didi Yojana, aims to make three crore women lakhpatis. Under this scheme, loans up to Rs 5 lakh are given without any interest, so that women can start their own business and become self-reliant.
Interest free loans for women
Women interested in starting a business can get an interest-free loan of up to Rs 5 lakh. They only have to repay the principal amount, as the interest is waived off. This financial assistance helps women set up multiple businesses and achieve financial independence.
To avail the Lakhpati Didi Yojana, women must join a self-help group (SHG). These groups streamline the loan process and provide the necessary support. Targeting mainly rural areas, SHGs ensure that women get access to the resources they need to succeed.
Joining a Self Help Group
Women must visit the SHG office with their business plan and required documents to apply for a loan. SHGs play a key role in disbursing loans and supporting women’s business endeavours. This structured approach ensures that women receive comprehensive support throughout their business journey.
The scheme also includes training programmes focused on financial and skill development. Women learn various skills and receive guidance to start their own businesses. The training covers areas such as poultry, agriculture, milk production, LED bulb manufacturing, take-home ration plants, handicrafts and animal husbandry.
Comprehensive Training Programme
After completing the training, women can apply for loans to start their chosen business. The training equips them with the necessary skills and knowledge, increasing the chances of success in their entrepreneurial ventures. This government initiative is part of a broader drive to strengthen the financial position of women. By providing interest-free loans and comprehensive training, the Lakhpati Didi scheme aims to make a significant impact on the lives of women across India.
Government empowers women through this scheme
PM Modi announced the release of funds worth Rs 2,500 crore to benefit 48 lakh members of 4.3 lakh self-help groups. In addition, over Rs 6,000 crore was allocated for several Sakhi Mandals. He highlighted that one crore Lakhpati Didis have been created in the last decade, of which 11 lakh have been added in the last two months alone. The Prime Minister also assured that laws are being strengthened to prescribe stringent punishment for crimes against women. The move is part of a broader effort to enhance the safety and security of women across the country.
