Women empowerment is a crucial pillar in building a developed Odisha. The state government’s initiative to provide interest subvention on bank loans has been instrumental in strengthening the economic growth of women. This measure not only fortifies the foundation of Self-Help Groups (SHGs) but also creates greater market opportunities, encouraging women entrepreneurs.
Today, at the Mission Shakti Bhawan, Deputy Chief Minister Pravati Parida attended the program titled “Interest Return to Self-Help Groups.” She emphasised that the government is committed to empowering women through livelihood-based economic models.
Bank loans play a key role in promoting the livelihoods and entrepreneurial spirit of SHG members. To reduce the burden of interest payments on these groups, the Odisha government has increased the bank loan amounts available to SHGs and reduced the annual interest rate to zero per cent for loans up to Rs 10 lakh. This interest subvention amount is directly credited to the SHGs’ bank accounts.
In a significant step during today’s event, Deputy Chief Minister Parida disbursed a total of Rs 117 crore, 12 lakh, 5 thousand, and 164 in interest returns to 2 lakh 24 thousand 884 Self-Help Groups. This initiative strengthens women-led enterprises financially and reaffirms the government’s commitment to the state’s development and economic progress.
The program was attended by Mission Shakti Department Director Dr Monika Priyadarshini, Additional Secretary Jyoti Shankar Mohapatra, senior officials from Odisha Livelihoods Mission, and representatives from various banks.
This step by the Mission Shakti Department highlights its unwavering commitment to enhancing the skills, development, and empowerment of women entrepreneurs, further illuminating the journey toward social and economic empowerment of women in Odisha.
