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Women Entrepreneurs In Rajasthan Can Get ₹40,000 Loan Under Mahila Nidhi Scheme

Women entrepreneurs can get a loan of more than ₹40,000 within 15 days of approval under the Mahila Nidhi scheme. 
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  • Krati Purwar
  • Editorial
Published -30 Aug 2022, 11:12 ISTUpdated -30 Aug 2022, 15:57 IST
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mahila nidhi loan scheme rajasthan government

On August 26, Ashok Gehlot, Chief Minister of Rajasthan, launched a scheme for women entrepreneurs called Mahila Nidhi. This is to help small business owners and ventures find a way to sustain themselves.

This initiative aims to help businesswomen avail of a small amount of loan to buy essentials that can help kick start their journey as entrepreneurs. 

While attending an event, Gehlot said, “There is a need to change social thinking and behaviour in order to improve women’s condition in society. The state government is running several welfare schemes for women.”

The Mahila Nidhi initiative would be established in the state government budget 2022-2023 through Rajasthan Rural Livelihood Development Council.

Loan Under Mahila Nidhi Scheme

loan under mahila nidhi

Women applying for a loan under this scheme can get up to ₹40,000 deposited in their bank accounts. This timeline of credit is 48 hours. If the loan is above ₹40,000, the period would be 15 days.

Currently, there are 2.70 lakh self-help groups in over 33 districts of the state. Thus, these groups connect over 30 lakh families. In 2022-2023, the government is targeting the formation of 50,000 self-help groups, covering even more families than today.

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Benefits Under Mahila Nidhi Scheme

benefits under mahila nidhi

At present, over 36 lakh families are expected to gain benefits from the Rajasthan Mahila Nidhi initiative. It will pan out in various phases.

During the launch, Gehlot also distributed loans worth ₹1.42 crores to women belonging to 386 self-help groups stretching over six districts. He also extended rewards to eight women from the Rajeevika community cadre.

After Telangana, Rajasthan became the second state to implement a separate scheme for women entrepreneurs. It is targeting to strengthen self-help groups by providing them with financial aid. The scheme would also improve the income of families in marginal strata and poor areas.

To extend more benefits under the scheme, the state government has also signed an MoU with Amazon so that women entrepreneurs can sell their products online. It will take into account products manufactured or produced by more than 15,000 businesswomen or members of self-help groups. These products will be listed on the online marketplace and be available for millions of Amazon users to buy. 

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Speaking about the development, Gehlot said that the state was setting new records in the education sector. He supported his earlier statement by claiming that more women (more women pilots in India) are getting admitted for higher education than boys.

 

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