Bhubaneswar: Chief Minister Mohan Majhi on Tuesday approved a proposal to continue the zero-interest loan scheme for women Self Help Groups (SHGs) in Odisha.
The scheme will allow them to borrow up to Rs 10 lakh without paying any interest.
The interest subvention benefit on SHG loans was earlier extended till March 31, 2025, and will continue for the 2025-26 financial year and subsequent years with the CM’s fresh approval, an official release said.
Majhi said the scheme will support women entrepreneurs and help create more ‘Lakhpati Didis’ in Odisha. It will also play a crucial role in strengthening the rural and urban economy of the state through increased participation of women, he added.
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In 2019, the then Chief Minister Naveen Patnaik had announced loans at zero per cent interest limited to Rs 3 lakh for women SHGs under Mission Shakti programme. The interest subvention benefit on SHG loans was subsequently increased to Rs 5 lakh in April 2022 and up to Rs 10 lakh in February 2024.