Mahila Samriddhi Yojana 2024: Amount Rs 1,40,000 | Last date | Age limit 18-55 yr

The Mahila Samriddhi Yojana is a significant initiative by the Government of India aimed at supporting women entrepreneurs. This scheme was launched by the National Backward Classes Finance and Development Corporation (NBCFDC) under the Ministry of Social Justice and Empowerment. The primary objective is to provide micro-finance to women from backward and economically weaker sections, either directly or through Self-Help Groups (SHGs). By providing financial assistance, the scheme aims to uplift women entrepreneurs and help them achieve financial independence and success in their business ventures. The scheme is implemented through a wide range of channel partners nationwide to ensure that the benefits reach the targeted beneficiaries effectively.

Feature	Description
Name of the Yojana	Mahila Samriddhi Yojana
State	Pan India
Initiated By	National Backward Classes Finance and Development Corporation (NBCFDC) under the Ministry of Social Justice and Empowerment
Yojana Overview	A microfinance scheme aimed at providing financial assistance to women entrepreneurs from backward and economically weaker sections, through direct loans or Self-Help Groups (SHGs). Targeted beneficiaries include women from minority communities and backward classes.
Beneficiaries	Women entrepreneurs belonging to backward classes, minority communities, and economically weaker sections across India. Applicants must be between 18 to 55 years of age.
Registration Process	Offline
Official Website	Mahila Samriddhi Yojana

Objectives of Mahila Samriddhi Yojana

The Mahila Samriddhi Yojana has several key objectives:

1. Financial Assistance: The primary goal is to offer financial assistance to women entrepreneurs from backward and economically weaker sections. This helps them in starting or expanding their businesses.
2. Micro-Finance Loans: The scheme provides micro-finance loans at lower interest rates to women, thus reducing the financial burden and encouraging them to pursue their entrepreneurial aspirations.
3. Empowerment: The scheme aims to empower women by providing them with the financial resources needed to overcome social stigma and gain financial independence.
4. Support to SHGs: It strengthens and assists Self-Help Groups (SHGs) that include women from autonomous, economically disadvantaged categories.
5. Encouraging Entrepreneurship: The scheme encourages women, especially those from scheduled castes or scheduled tribes, to adopt an entrepreneurial attitude and achieve their business goals.

Registration Process

To register under the Mahila Samriddhi Yojana, follow these detailed steps:

• Visit the Official Website: Start by visiting the official website of NSFDC. The link to the website is NSFDC Official Site.
• Download the Application Form: You need to download the Mahila Samriddhi Yojana application form. The form can be accessed directly via this link: Loan Application Form.

• Fill the Application Form: Carefully fill out the application form with all the required details. This includes personal information such as name, age, contact information, and the amount of loan required. Ensure all information is accurate to avoid any issues during the verification process.
• Gather Required Documents: Along with the application form, you will need to submit various documents such as:

• Address Proof (e.g., ration card, domicile certificate)
• Identity Proof (e.g., Aadhaar card, voter ID, passport)
• SHG Membership ID (if applicable)
• Caste Certificate (for SC/ST applicants)
• Income Certificate (issued by a competent authority)
• Aadhaar Card (for identity verification)
• Bank Account Details
• Recent Passport-Sized Photographs

• Submit the Application Form: Once the form is filled and all required documents are gathered, you need to submit them to the nearest District Office of the State Channelizing Agencies (SCAs). These offices are responsible for processing your application.
• Processing of Application: The SCAs/CAs will scrutinize the application forms and forward them to their Head Offices. Eligible applicants can also submit their applications to other channelizing agencies like Regional Rural Banks, Public Sector Banks, and NBFC-MFIs with whom NSFDC has signed Memorandums of Agreement.
• Approval and Disbursement: After the application is approved and all terms and conditions are met, funds will be disbursed to the SCAs/RRBs/Nationalized Banks for onward disbursement to the beneficiaries. The disbursement process is managed by NSFDC based on demand from the SCAs/RRBs/Public Sector Banks/NBFC-MFIs.
• Repayment Schedule: The loans are to be repaid by the beneficiaries as per the repayment schedule stipulated by the SCAs/CAs. The repayment period is within 3.5 years, in quarterly installments from the date of each disbursement, including a moratorium period.

Benefits of this Yojana

The Mahila Samriddhi Yojana offers several benefits to women entrepreneurs:

1. Financial Assistance: Beneficiaries receive financial assistance up to ₹1,40,000, which helps in reducing their financial burden.
2. Repayment Period: The repayment period is 3.5 years, with quarterly installments from the date of each disbursement, including a moratorium period.
3. Access to Formal Credit: The scheme improves access to formal credit for women, promoting timely repayments and enhancing agricultural productivity.
4. Economic Stability: The financial assistance helps in improving the economic stability of women entrepreneurs, fostering their business growth and development.
5. Additional Loans: On repayment of loans under MSY, beneficiaries can avail of any loan under the NSFDC scheme through the concerned State Channelizing Agencies (SCA).

Eligibility Criteria

To be eligible for the Mahila Samriddhi Yojana, the following criteria must be met:

1. Age: Applicants must be women aged between 18 to 55 years.
2. Targeted Groups: The scheme is applicable to women belonging to economically and socially backward classes, as notified by the Central/State Government from time to time.
3. SHG Membership: Women should either be part of a Self-Help Group or belong to the targeted minority community.
4. Income Limit: The annual family income of the applicant must not exceed ₹3.00 lakhs.
5. Additional Conditions: Applicants must meet the documentation requirements set by the scheme.

Required Documents

The following documents are required to apply for the Mahila Samriddhi Yojana:

1. Address Proof: Proof of residence such as a ration card or domicile certificate.
2. Identity Proof: Identification documents like Aadhaar card, voter ID, or passport.
3. SHG Membership ID: If applicable, a membership ID of the Self-Help Group.
4. Caste Certificate: A caste certificate for applicants from scheduled castes or scheduled tribes.
5. Income Certificate: An income certificate issued by a competent authority.
6. Aadhaar Card: A copy of the Aadhaar card for identity verification.
7. Bank Account Details: Bank account details for disbursement of the loan amount.
8. Photographs: Recent passport-sized photographs of the applicant.