RANCHI: The Jharkhand state government has proposed to provide a one-time loan of Rs 20,000 to beneficiaries of Maiyan Samman Yojana under the ‘Mukhyamantri Maiyan Udhayam Yojana’ (Maiyan Entrepreneurship Scheme).
Currently, it has been decided that beneficiaries of Maiyan Samman Yojana, up to 45 years of age, will be provided loans through a simplified application process.
The loan amount can be repaid in easy instalments over five years.
A special 'Mahila Loan Portal' will also be developed to access information regarding loan disbursement, payment status and loan upgrades.
Finance Minister Radhakrishna Kishore presented the scheme at a high-level meeting of the State Bankers’ Committee held on Saturday. Representatives of the Reserve Bank of India (RBI), NABARD and major banks operating in the state were also present at the meeting.
According to government officials, the loan amount can be used to start or expand small income-generating activities such as tailoring, incense stick making, petty shops, and other micro-enterprises.
The Jharkhand State Livelihood Promotion Society (JSLPS) will provide technical support to beneficiaries in business selection and training.
Banks have agreed in principle to extend cooperation in implementing the scheme. Banks will start working on this immediately after receiving the Standard Operating Procedure (SOP) from the Finance Department.
The move is expected to strengthen livelihoods and boost grassroots entrepreneurship among women.
Sources informed that the scheme will be presented in the state government's budget. It is expected to be launched on International Women's Day on March 8.
Notably, under the Maiya Samman Yojana, approximately 51 lakh women beneficiaries aged between 18 and 50 years are receiving financial assistance of Rs 2,500 per month through DBT. A total of Rs 1,250 crore is being disbursed by the state every month.