Mission Shakti Loan Scheme Odisha 2024: Apply for Interest Free Loan, PDF

Mission Shakti Loan Scheme In order to empower women through service and financial support, the Odisha government launched the Odisha Mission Shakti 2024 programme. Through the project, women gain access to self-help organisations and federations through institutional financing for sustainable livelihoods. This financial inclusion project not only helps women become more financially capable, but it also boosts their self-esteem.

Mission Shakti Loan Scheme 2024

The Mission Shakti credit initiative was introduced by Chief Minister Naveen Patnaik during a ceremony held at Lok Seva Bhavan Tradition Middle in Bhubaneswar. Under this scheme, eligible women can receive interest-free advances of up to Rs 10 lakh in addition to assistance in the form of regalia and jackets. Through interest-free credits, this initiative aims to empower 70 lakh women in Odisha’s self-help groups (SHGs) and provide them with budgetary quality.

This credit programme has given moms better budgeting skills and a more stable grasp of their financial well-being. A total credit amount of Rs 15,000 crore has been allocated to the SHGs for the current year, with an additional Rs 75,000 crore over the next five years.

The state government’s Odisha Mission Shakti Conspire, introduced on Walk 8, 2001, provides financial support to women who actively participate in self-help groups and leagues. Women will gain access to financial education through the 2024 mission, and they will receive organisational credit for pursuing self-employment through their self-help groups. The programme offers many forms of financial assistance, including spinning reserves, Mission Shakti advances, and seed money.

Mission Shakti Loan Scheme Details in Highlights

Objectives of Mission Shakti Loan Scheme Odisha

The Mission Shakti Maa has given the government business aid of Rs 8,000 crore. Women currently contribute significantly to the development of the state of Odisha and work with the government on a variety of projects. The exceptional work of Mission Shakti Ma is now being acknowledged on a national and worldwide level.

Becoming SMEs, or small and medium-sized enterprises, is the first step for SHG women into the corporate world. Blazers and uniforms received a large funding allocation of Rs 730 crore to assist this transition.

Benefits of Mission Shakti Loan Scheme Odisha 2024

• Women from self-help groups are going on exposure tours to Dubai and Singapore.
• The Chief Minister thinks that in the future, more women will take these kinds of excursions overseas.
• Self-help group members have transitioned seamlessly into corporate and entrepreneurial jobs.
• To provide uniforms and blazers to the 1.5 lakh and 70 lakh SHG members in the state, respectively, a budget of Rs 730 crore has been allocated.
• Over 2.75 lakh SHGs have had a direct interest subvention of Rs 145 crore paid into their bank accounts.
• Building contacts in the corporate world, SHG women are making a substantial transfer to Small and Medium Enterprises (SME) organisations.
• Interest subvention has made it possible for SHGs to obtain a substantial return of Rs 925 crore during the last few years.

Documents Required Mission Shakti Loan Scheme

• Aadhar Card
• PAN Card
• Mobile number
• Email ID

Eligibility Criteria for Mission Shakti Loan Scheme

• You need to be a member of an official self-help organisation.
• Usually, the storyline attempts to give women social and financial support.
• Generally speaking, you should live in the state or region where the story is situated.
• Establish a deep connection and express interest in the activities and events of Mission Shakti.
• People who wish to grow in their careers but have shown signs of financial hardship might be given extra consideration.
• Respect the program’s guidelines, show up to planning meetings, and complete any additional obligations.

How to Apply Online for the 2024 Mission Shakti Loan Program?

• Visit the program’s Official website.

• From the home screen, select the Apply option.
• There will be a new page that appears; carefully fill out all the fields.
• Upload the necessary data.
• Click on the “Submit” button.
• Save the application in PDF format for later use.

1. What is the Mission Shakti Loan Scheme?

The Mission Shakti Loan Scheme is a government initiative aimed at empowering women by providing them access to financial support for entrepreneurial ventures and economic activities.

2. Who is eligible to apply for a loan under Mission Shakti?

Typically, women from marginalized or economically weaker sections who aspire to start or expand their businesses are eligible to apply for loans under the Mission Shakti scheme.

3. What types of businesses or activities are supported under this scheme?

The scheme may support a variety of businesses and economic activities, including but not limited to agriculture, small-scale industries, handicrafts, and services.

4. How can eligible women apply for a loan?

Women interested in availing the loan can usually apply through designated application centers, government offices, or online portals. The specific application process may vary.

5. What is the interest rate and repayment period for Mission Shakti loans?

The interest rates and repayment terms may vary, and it’s important to check the scheme guidelines for the most accurate and updated information on interest rates and repayment periods.

6. Is there any collateral requirement for the Mission Shakti loans?

The scheme may have provisions to offer collateral-free loans or may accept minimal collateral, depending on the nature of the business or economic activity.

7. How are the loan disbursements and repayments managed?

The disbursement and repayment processes are usually managed through financial institutions or agencies designated by the government, and details are communicated to the beneficiaries during the application process.

8. Are there any training or support programs provided along with the loans?

Some Mission Shakti schemes may include training and support programs to enhance the entrepreneurial skills of the beneficiaries, fostering sustainable business growth.