To a great extent, women have been empowered and have the option of self-employment as the Jharkhand government has declared a facile loan of up to 20,000 to those who participate in the Mukhyamantri Maiyaan Samman Yojana. The move is meant to make women self-sufficient in terms of finances by promoting small businesses and income-generating activities.
The loan facility will be offered by the banks and financial institutions, according to the officials, with a simplified process. The women who are registered under the Maiyaan Samman Yojana will be in a position to seek these loans without collateral or sophisticated documents. This initiative was discussed and passed at a meeting of the State Level Bankers Committee (SLBC), which was attended by the banks, NABARD and government department representatives.
The proposed loan scheme aims to foster the micro-enterprise among women, particularly women in economically disadvantaged groups. The loan amount can be utilized by the beneficiaries to initiate or expand small businesses like tailoring units, grocery stores, selling vegetables, handicrafts, keeping poultry, or goats or any other household business.
The government said that the repayment will be amiable and friendly to the beneficiaries. The monthly payments will be small, and in a few situations, they can be repaid using the already available financial aid in the form of Maiyaan Samman Yojana through direct bank transfers. This should decrease the repayment stress and promote the repayment of loans on time.
The government intends to give training and technical advice in the form of Jharkhand State Livelihood Promotion Society (JSLPS), besides funding. It will also help the beneficiaries in making decisions on the right business ideas, financial management, and business sustenance that will provide a greater success rate.
A more recent program that is being implemented is Mukhyamantri Maiyaan Samman Yojana, which provides financial assistance to the beneficiary women in monthly instalments and is directly deposited into their bank accounts. The new loan facility is bound to generate a lot of economic opportunities between rural and urban regions of the state, as lakhs of women are already registered for the scheme.
According to the state officials, the initiative represents the will of the government to develop women-led and grassroots entrepreneurship. It is expected that the scheme will be formally introduced in the next few weeks, perhaps together with the state budget or a major social event.
Analysts are of the opinion that the relocation will enhance the income levels of households, alongside creating jobs in the area and advancing financial inclusion. The Jharkhand government has reemphasized that providing women with economic empowerment is one of the main priorities, and the new loan facility on the Maiyaan scheme is one such move.
