Mission Shakti Loan Scheme Odisha: Benefits, Docs Req, Eligibility Criteria & How to Apply

Mission Shakti Loan Scheme Odisha
Mission Shakti Loan Scheme Odisha

In an empowering move, the Odisha government, led by Chief Minister Naveen Patnaik, has launched the Mission Shakti Loan Scheme. Unveiled during a ceremony at the Lok Seva Bhavan Convention Centre in Bhubaneswar on February 27, 2024, this initiative aims to bolster the financial independence and entrepreneurial capabilities of women in the state. Here’s a detailed look at the Mission Shakti Loan Scheme, its objectives, benefits, necessary documentation, eligibility criteria, and the application process.

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Mission Shakti Loan Scheme Odisha 2024

The Mission Shakti Loan Scheme was introduced with the vision of empowering the women of Odisha by facilitating them with interest-free loans. This initiative targets women involved in Self-Help Groups (SHGs), aiming to enhance their economic status and enabling them to undertake or expand their business ventures.

Name of the schemeMission Shakti Loan Scheme Odisha
Launched byOdisha Government
Launched on27th of February, 2024
Introduced atLok Seva Bhavan Convention Centre, Bhubaneswar
ObjectiveTo provide interest-free loans
BenefitsInterest-free loans up to Rs 10 lakh for SHGs
BeneficiariesWomen in SHGs
Official WebsiteMission Shakti Odisha

Objectives of Mission Shakti Loan Scheme Odisha 2024

The scheme is designed not just to provide financial assistance but also to integrate SHG women into the mainstream economic framework, transforming them into small and medium-sized enterprises (SMEs). This strategic move is expected to foster sustainable development and encourage women’s participation in various government-led and private sector initiatives.

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Benefits of Mission Shakti Loan Scheme Odisha 2024

The benefits of the Mission Shakti Loan Scheme are manifold:

  • Financial Empowerment: Interest-free loans up to ₹10 lakh to help women start or expand their businesses.
  • Capacity Building: Exposure tours to countries like Singapore and Dubai for selected SHG women to learn global best practices.
  • Professional Uniformity: Financial provision of Rs 730 crore for uniforms and blazers for 1.5 lakh SHG members.
  • Interest Subvention: Direct interest subvention of Rs 145 crore has been credited to the bank accounts of over 2.75 lakh SHGs.
  • Expansion Opportunities: Establishment of 5,000 Mission Shakti Bazaars across Odisha to promote and sell products crafted by SHG women.

Documents Required

Applicants need to prepare the following documents to apply for the scheme:

  • Aadhar Card: For identity and address proof.
  • PAN Card: For financial and tax-related verification.
  • Mobile Number: For communication and updates.
  • Email ID: For digital correspondence.

Eligibility Criteria for Mission Shakti Loan Scheme

To be eligible for the Mission Shakti Loan Scheme, applicants must:

  • Be Permanent Residents: Applicants must be permanent residents of Odisha.
  • Be Women: The scheme is exclusively for women.
  • Be SHG Members: Applicants must be active members of any recognized SHG in the state.

Application Process of Mission Shakti Loan Scheme Odisha 2024

Interested candidates can apply for the Mission Shakti Loan Scheme by following these steps:

  1. Visit the Official Website: Navigate to the scheme’s official portal at https://missionshakti.odisha.gov.in/.
  2. Apply: Click on the ‘Apply’ option available on the home screen.
  3. Fill in Details: Enter all required details in the application form accurately.
  4. Upload Documents: Attach scanned copies of the necessary documents.
  5. Submit: Review your information for accuracy and click on the ‘submit’ option.
  6. Save Confirmation: Download or print the confirmation receipt or application form for future reference.

The Mission Shakti Loan Scheme is a testament to the Odisha government’s commitment to women’s empowerment through financial inclusion and economic self-reliance. This initiative not only aims to provide financial support but also integrates women into the broader economic landscape, promoting their transition into business-oriented activities and corporate roles

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