Objective of Mahila Samridhi Yojana

In order to cater the Micro Finance needs of small entrepreneurs belonging to the target group, the National Backward Classes Finance and Development Corporation (NBCFDC) provides loans through self help groups (SHGs) by State Channelising Agency (SCA) under Micro Finance Scheme.

Self Help Groups (SHGs)

Economically homogeneous and affinity group of poor people voluntarily formed Self help groups to save and to contribute common funds to its members.

Channel Partners play a vital role through their field officers, encouraging people of the target group in forming Self help groups and get financial assistance under Mahila Samriddhi Yojana of NBCFDC. 

Maximum number of women in one SHG is 20. In a SHG 75% of members can be from Backward Classes and the remaining 25% members may be from other weaker section like SC or Handicapped.

Know more about SHG

Loan under Mahila Samridhi Yojana

Loans under MSY are provided through State Channelizing Agencies (SCAs), Regional Rural Banks (RRBs) and Nationalized Banks to the target group (backward classes).

MSY loan is provided to Safai Karamchari and Scavenger and their dependants for projects with a maximum project cost up to Rs.60000 for small and petty business and sundry income generating activities.

Pattern of financing

Loan will be provided up to 95% and balance 5% provided by the State Channelizing Agencies (SCAs) or Beneficiary contribution. Utilization Period is 4 months from the date of disbursement of the loan.

Rate of Interest

Interest rate for loan under Mahila Samridhi Yojana is 

Loan Maximum Limit : Rs.60000 per Beneficiary

Interest chargeable from SCA : 1% per annum

Interest chargeable from Beneficiary : 4% per annum

Repayment of Loan

Loan need to be repaid in quarterly instalments within 4 years including the moratorium period of six months on the recovery of principal.

Eligibility for Mahila Samridhi Yojana

Eligibility criteria to obtain benefits of Samriddhi Yojana are given in detail here.

• Women entrepreneur belonging to backward classes only can apply for this scheme.
• Age of the woman should be 18 years
• Members of Backward Classes living below double the poverty line are eligible.
• Annual income of the women should be less than Rs.3 Lakhs per annum

Note:  The SCAs/Banks will release up to 50% of total funding to women with annual income up to Rs.1.50 Lakh

Documents Required

Following documents need to be furnished for obtaining MSY loan.

• Proof of residence (Electricity bill or ration card can be furnished)
• Proof of Identity
• Self group membership card
• Income certificate
• Aadhaar Card
• Caste certificate
• Bank account book