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Mahila Samriddhi Yojana: Empowering Women through Financial Inclusion

Mahila Samriddhi Yojana is a government scheme for the economic and social empowerment of women in India. The scheme provides access to credit, savings, skill development and entrepreneurship opportunities for women to improve their financial independence.

Mahila Samriddhi Yojana | મહિલા સમૃદ્ધિ યોજના


Mahila Samriddhi Yojana

Name of ArticleMahila Samriddhi Yojana
BeneficiaryEntrepreneur women who come below the poverty line.
Loan amount15,00,000 per SHG group
Duration of the loan4 years
Toll free number18001023399

Eligibility Criteria For Mahila Samriddhi Yojana

The eligibility criteria for the Mahila Samriddhi Yojana (Women's Empowerment Scheme) may vary depending on the specific implementation of the scheme by different states or organizations. However, generally speaking, the following criteria are often used to determine eligibility for the scheme:
  • The applicant must be a woman.
  • The applicant must be a resident of the state where the scheme is being implemented.
  • The applicant must be above 18 years of age.
  • The applicant must belong to a low-income or economically weaker section of society.
  • The applicant must not be a defaulter of any other government scheme.
It's also possible that other criteria such as educational qualifications or income levels may be considered for some specific implementations of the scheme.

Document Requirement Of Mahila Samridhi Yojana

The objective of this scheme is to provide quick and easy credit option to deserving women. So, the documentation process under MSY is very common. Most of the documents required by lenders are basic KYC documents. The list of documents required for this scheme is given below.
  • Identity proof
  • address proof
  • SHG Membership ID
  • Caste certificate, if applicable
  • Bank account details
  • Income certificate from competent authority
  • aadhar card
  • Recent passport size photographs

Lending Institutions

The scheme disburses microfinance through lending institutions to enable women entrepreneurs to start their own business ventures. The institutions lending through this scheme are mentioned below.
  • State Channelizing Agencies (SCAs)
  • Regional Rural Banks (RRBs)
  • Nationalized banks

Features And Benefits Of Mahila Samriddhi Yojana

  • Since its inception, the scheme has helped many women with microfinance for their business ventures.
  • Various features and benefits of this scheme that make it a very attractive option for women entrepreneurs are mentioned below.

Loan Amount

Loans under this scheme are disbursed through Self Help Groups (SHGs) or directly to the beneficiaries. The amount of loan disbursed under the scheme per SHG is a maximum of Rs. 15,00,000 and per beneficiary a maximum of Rs. 1,00,000 is. Also, the underlying condition for SHGs is that the number of members is limited to 20 per group. The maximum loan by the lender is limited to a maximum of 95% of the project cost.

Interest Rate

The rate of interest under this scheme is very nominal. Below is the pattern of interest charged on loans under the scheme.
important pointsInterest rate
From NBCFDC to Lending Partner1%
From Lending Partner to Beneficiary4%

Tenure

The loan repayment tenure under this scheme is up to a maximum of 48 months or 4 years. This period includes a moratorium period of maximum 6 months.

Some Benefits Of The Scheme

  • It gives women entrepreneurs an opportunity to become self-reliant.
  • Enables upliftment of socially and economically backward families.
  • Ensures creation of employment opportunities among women in special categories as well.
  • Minimal documentation and easy application process make it highly accessible.

Application Process For Loan Under Mahila Samriddhi Yojana

The application process for availing loan under the scheme is detailed on the NBCFDC website. The application form can be obtained from the channel partners and has to be submitted at the district office of the channel partner where the applicant resides.

The application form has to be duly filled with all relevant details as well as details of occupation and training requirements if required. To complete the application process the applicant has to submit all the required documents along with the application form.
Application can also be submitted online by registering on NBCFDC website. The application will then be forwarded to the respective Channel Partner of the State/District in which the applicant resides. The channel partner will then contact the applicant for further details regarding the application process.

Contact Details For Mahila Samriddhi Yojana

For any details related to the application process or any other details related to the scheme like applicant eligibility, channel partners, SGHs etc., they can contact NBCFDC on the below contact channels.
Toll Free Number18001023399
(Available Monday to Friday
10 AM to 5 PM)
Another telephone number+911145854400

FAQS - Mahila Samriddhi Yojana

Q. What is the Mahila Samriddhi Yojana?
The Mahila Samriddhi Yojana is a government scheme launched to promote economic and social empowerment of women in India by providing them with access to financial services and resources.

Q. Who is eligible for the Mahila Samriddhi Yojana?
Eligibility criteria for the Mahila Samriddhi Yojana may vary depending on the specific implementation of the scheme by different states or organizations. Generally, the applicant must be a woman, resident of the state where the scheme is being implemented, above 18 years of age, belong to a low-income or economically weaker section of society and must not be a defaulter of any other government scheme.

Q. What are the benefits of the Mahila Samriddhi Yojana?
The Mahila Samriddhi Yojana aims to provide women with access to credit, savings, skill development and entrepreneurship opportunities. Additionally, the scheme also aims to provide financial education and awareness to women.

Q. How can I apply for the Mahila Samriddhi Yojana?
The process for applying for the Mahila Samriddhi Yojana may vary depending on the specific implementation of the scheme by different states or organizations. You can check with the local government or the implementing agency for more information on how to apply for the scheme in your area.

Q. What documents are required to apply for the Mahila Samriddhi Yojana?
The required documents to apply for the Mahila Samriddhi Yojana may vary depending on the specific implementation of the scheme by different states or organizations. Generally, it requires documents such as ID proofs, address proof, income proof, age proof and other related documents.

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