Odisha's Chief Minister Extends Interest-Free Loan Scheme for Women Entrepreneurs

Continuing Support for Women Self-Help Groups

In Bhubaneswar, Chief Minister of Odisha, Mohan Charan Majhi, has given the green light for the continuation of the interest-free loan initiative aimed at women-led self-help groups as part of the Mission Shakti program.

Previously, this interest-free loan facility was set to expire on March 31. However, with the recent approval, it will now be available for the fiscal year 2025-26 and beyond, according to an official announcement made on Tuesday.

This scheme allows women's self-help groups to access loans of up to Rs 10 lakh without incurring any interest.

Majhi emphasized that this initiative is designed to foster the growth of women entrepreneurs and create 'Lakhpati Didis' across the state.

He noted that enhancing women's involvement will significantly bolster both rural and urban economies.

The interest-free loan program for women's self-help groups was initially launched by former Chief Minister Naveen Patnaik in 2019.

The original loan limit was set at Rs 3 lakh, which was later raised to Rs 5 lakh in April 2022 and further increased to Rs 10 lakh in February 2024.