Govt launches soft credit plan for rural women entrepreneurs
Wednesday, 26 October 2022, 15:00 IST
To increase businesses and employment, the central government has introduced the soft credit scheme for rural women entrepreneurs.
It will provide funding to particular self-help group members (SHG). Currently, only groups of SHG members may apply for bank loans.
Without any collateral and without any pervious experience of entrepreneurship the credit can be availed.
On a loan up to Rs 1.5 lakh for three years on prompt repayment the government will give an interest subvention to individual borrowers.
Union rural development secretary Nagendra Nath Sinha said, “The enterprise financing scheme will create more business opportunities for women. This, in turn, will create more employment in rural belts as the entrepreneurs would need workforce to run their business.”
The scheme will help in creating additional sources of income for women and diversify income to boost the rural economy.
Women between 21 and 60 years of age are eligible for this new credit scheme.
It will provide funding to particular self-help group members (SHG). Currently, only groups of SHG members may apply for bank loans.
Without any collateral and without any pervious experience of entrepreneurship the credit can be availed.
On a loan up to Rs 1.5 lakh for three years on prompt repayment the government will give an interest subvention to individual borrowers.
Union rural development secretary Nagendra Nath Sinha said, “The enterprise financing scheme will create more business opportunities for women. This, in turn, will create more employment in rural belts as the entrepreneurs would need workforce to run their business.”
The scheme will help in creating additional sources of income for women and diversify income to boost the rural economy.
Women between 21 and 60 years of age are eligible for this new credit scheme.
