Odisha: Patnaik announces 0 % interest loan for SHGs

Puri (Odisha): Odisha Chief Minister Naveen Patnaik has announced zero percent interest loan for Self Help Groups (SHGs) under the Mission Shakti scheme of state government introduced for women’s financial inclusion and development.

Addressing women of SHG Mission at Shakti Mahasamavesh event in Puri, Patnaik announced Rs 15000 seed money for new SHGs, Rs 3,000 to purchase smartphones for digital empowerment and a sum of Rs 25 lakh for 338 existing block federations.

Mission Shakti was launched in 2001 as a project aiming economic empowerment of women through self help groups and providing them bank loans at low interest for livelihood opportunities. At present, around 70 lakh women are working with over 6 lakh SHGs with 5,000 crore savings and 2,000 crores annual bank exposure.