Mahila Samriddhi Yojana

Mahila Samridhi Yojana (MSY) is a scheme aimed to benefit women entrepreneurs from backward backgrounds or poor backgrounds. The scheme was launched as part of the National Backward Classes Finance and Development Corporation (NBCFDC) under the Ministry of Social Justice and Empowerment. Under this scheme, the Corporation bears the training cost and stipend for training that is provided to groups of about 20 women, in suitable craft activities. The group is formed into a SHG and after the training, micro-credit is provided. This scheme is being implemented by a wide range of channel partners nationwide. Targeted women beneficiaries are identified and given loans either directly or in the form of Self-Help Groups (SHGs). The two main targeted beneficiaries are:

1. Self-help groups (SHGs): It aims to strengthen and assist SHGs, particularly those that include women. These people make up the autonomous, economically disadvantaged category. 1. Women belonging to economically and socially backward classes (targeted groups): Women from the underprivileged classes are considered, particularly those who fall under the SC or ST category.
   Objectives of Mahila Samridhi Yojana

2. To encourage women belonging to minority groups from rural regions and underprivileged classes to adopt an entrepreneurial attitude.

3. To help these women meet their entrepreneurial goals by providing microfinance loans at lower interest rates.

4. To encourage women from scheduled castes or scheduled tribes or any other minority populations to pursue their aspirations.

5. To encourage women to overcome social stigma and gain financial independence.

6. To assist women who are unable to establish their own businesses or careers owing to a lack of financial assistance.

7. It is also a Micro Finance Scheme for women with rebate in interest.

1. It is a microfinance scheme for women with a rebate in interest. Financial Assistance up to the cost of Rs. 1,40,000/- is provided.
2. The repayment period is within 3.5 years, in quarterly installments from the date of each disbursement including the moratorium period.
3. On repayment of loans under MSY, through the concerned State Channelizing Agencies (SCA), the eligible beneficiaries can avail of any loan under the NSFDC scheme.

• Applicant must be between 18 to 55 years of age.
• Applicable to Women from low-income families or women who belong to SC/ST/OBC categories as notified by the Central/State Government and whose family income is less than Rupees three lakhs per annum.
• Applicable to Women looking to start their own business or engage in income-generating activities.

Offline

1. Visit the official website of NSFDC or your state government portal to apply. 1. Download the Mahila Samridhi Yojana application form. 1. Fill up the application form carefully and provide the necessary details, such as your age, name, contact information, required amount, etc.
2. Submit the form along with the required documents.
3. NSFDC provides loans to the eligible target group under its schemes through its Channel Partners.
4. The loan applications are to be submitted by the eligible target group (Scheduled Castes persons having annual family income up to Rs. 3.00 lakhs ) to the District Offices of State Channelizing Agencies (SCAs).
5. The District Offices of SCAs/CAs forward these applications, after scrutiny, to their Head Offices.
6. Eligible target group can also submit their loan application to other Channelizing Agencies of NSFDC such as Regional Rural Banks/ Public Sector Banks/ NBFC-MFIs etc. with whom NSFDC has signed Memorandum of Agreements.
7. After acceptance of the terms and conditions of the sanction and fulfillment of Prudential Norms, as applicable, funds are disbursed to the SCAs/ RRBs/ Nationalized Bank for onward disbursement to the beneficiaries.
8. The disbursement of funds is made by NSFDC on receipt of demand from the SCAs/ RRBs/ Public Sector Banks/ NBFC MFIs.
9. The loans are to be repaid by the beneficiaries as per the repayment schedule stipulated by the SCAs/CAs.