The Government of Chhattisgarh has announced the launch of the Mahtari Shakti Rin Yojana 2024 in the state. The scheme has been launched to provide collateral-free guarantor-free bank loans to women. All women beneficiaries of the Mahtari Vandana Yojana who reside in the rural areas of the state can now apply for simple bank loans under the Mahtari Shakti Rin Yojana. Through this scheme, the Chhattisgarh Government will offer collateral-free bank loans up to INR 25,000 to start a small business or fulfil some other necessities. Rural women who have bank accounts in regional rural banks can apply for a loan. Read below to check all the crucial details about the Mahtari Shakti Rin Yojana 2024.
Launch of Mahtari Shakti Rin Yojana 2024
The Mahtari Shakti Rin Yojana was launched on the 1st of December 2024 by the Finance Minister of Chhattisgarh, Shri O P Chaudhary. On the occasion, the minister laid stress on women’s empowerment through microcredit facilities. The loan facility under the scheme will be available for all rural women who receive benefits from the Mahtari Vandana Yojana. Women from rural regions of the state will receive a loan of up to INR 25,000 to start small ventures. For this purpose, they are not required to do too much official formality, as the loan will be provided to them without any collateral and a guarantor.
Mahtari Shakti Rin Yojana Details in Summary
| Name of Scheme | Mahtari Shakti Rin Yojana |
|---|---|
| Concerned Government | Chhattisgarh State Government |
| Launched by | Finance Minister Shri O.P. Chaudhary |
| Scheme Type | Loan Scheme |
| Maximum Loan Amount | INR 25,000 |
| Beneficiaries | Women in rural areas having account in Chhattisgarh Rural Banks |
| Application Process | Offline |
| Official Website | Come Soon |
Aims and Objectives
The Mahtari Shakti Rin Yojana has been launched in Chhattisgarh to provide microcredit facilities to women to start small businesses. With the help of this scheme, women in rural regions of the state will be able to undertake business ventures and participate in income and employment generation. This scheme will enable rural women to develop a sense of entrepreneurship and undertake profit-making activities, including starting a small shop and doing home-based business that earns profit. The Mahtari Shakti Rin Yojana will empower women in rural life and improve their socio-economic status in the future.
Key Features
- The Mahtari Shakti Loan Yojana has been launched by Chhattisgarh Finance Minister Shri O.P. Chaudhary.
- The main aim of this scheme is to offer microloan facilities to rural women.
- All women who have accounts in the Rural Banks of Chhattisgarh and receive the benefits of the Mahtari Vandana Yojana in that account can apply for a loan.
- The scheme will be operational in all districts of Chhattisgarh and will offer loan facilities to women to engage in income- and employment-generating activities.
- About 17.5 lakh women will be able to get bank loans with ease from this scheme.
- The rural banks of Chhattisgarh will monitor the implementation and operation of this scheme.
Loan Benefits
- A maximum of INR 25,000 can be availed as a bank loan under the Mahtari Shakti Scheme 2024.
- The bank loan will be offered without collateral and a guarantor.
- Eligible women can submit a written request to their respective banks for a loan.
Repayment and Interest Rate
- The repayment of the bank loan under the Mahtari Shakti Yojana will be done in monthly installments.
- A total of 4 years will be provided to borrowers, during which repayment can be made in 48 installments.
- The rate of interest will be as per the RBI guidelines, and it may vary each quarter.
- Beneficiaries will have to subscribe to the Pradhan Mantri Suraksha Bima Yojana with a monthly premium of Rs. 20/-.
Eligibility Criteria of Mahtari Shakti Rin Yojana
- The applicant should be a permanent resident of Chhattisgarh.
- Only women citizens can apply for a loan under this scheme.
- Eligibility extends only to those women who are beneficiaries of the Mahtari Vandana Yojana.
- The applicant should have an operational bank account in the rural bank of Chhattisgarh in which she must be receiving installments of the Mahtari Vandana Yojana.
- Women who availed of a bank loan earlier and have not repaid it will not be considered for the Mahtari Shakti Loan.
- The applicant should not be a defaulter of any bank or financial institution.
Required Documents
Following documents may be required.
- Aadhar Card
- PAN Card
- Mobile Number
- Recommendation Letter
- Photograph
Application Process for the Mahtari Shakti Rin Yojana
- Applicants can visit the nearest branch of the Chhattisgarh Rural Bank and collect the application form.
- Fill out the application form with mandatory details.
- Complete the application form with a thumb impression and signature and paste a photograph.
- Attach a copy of the necessary documents and submit the application form to the counter.
- Collect the acknowledgement receipt from the counter.
- Your application will be verified, and after the confirmation of the eligibility, the requested loan amount will be transferred to your bank account.
Frequently Asked Questions
What is the Mahtari Shakti Rin Yojana?
The Mahtari Shakti Rin Yojana is a small credit scheme launched in Chhattisgarh to provide simple loan facilities to women in rural areas.
Who launched the Mahtari Shakti Rin Yojana 2024?
The scheme was launched by the Finance Minister of Chhattisgarh, Shri O.P. Chaudhary.
How much loan will be sanctioned under the scheme?
INR 25,000 can be availed as a bank loan under the Mahtari Shakti Loan Yojana.
Who can avail of bank loans under the Mahtari Shakti Loan Scheme?
Beneficiaries of the Mahtari Vandana Yojana who belong to rural areas and who have bank accounts in the Chhattisgarh Rural Bank can apply for a loan.
What is the application process for a loan under the Mahtari Shakti Loan Yojana?
The application process can be performed by visiting the branch of the bank in which the beneficiary has a savings account.
Is there any guarantor required to avail a bank loan under the scheme?
No, a loan facility under Mahtari Shakti Rin Yojana is available without a guarantor and without collateral.
How much interest will be charged on such loans?
The rate of interest will be determined by the respective banks following the guidelines of the Reserve Bank of India.