Gujarat govt to provide interest-free loans to women

The Gujarat government on Sunday said it will launch a special scheme to provide interest-free loans to promote self-employment among women in the time of COVID-19 pandemic on September 17, birthday of Prime Minister Narendra Modi. Under the Mukhyamantri Mahila Kalyan Scheme (MMKS), loans of Rs one lakh will be given to women self-help groups (SHGs) each comprising 10 members, an official release said.

The state government will bear the interest burden on loans, it said. A total of one lakh such SHGs--50,000 each in rural and urban areas--will begranted loans under the scheme, it said.

"The Gujarat government has decided to introduce a scheme to provide loan sans interest to women to make them self-employed. The scheme will help women to become self-reliant and will enable them to help their families to cope with finances in the time of coronavirus pandemic," the release said.

In rural areas of the state, the MMKS will be implemented by the Gujarat Livelihood Promotion Company, while the Gujarat Urban Livelihood Mission will implement it in urban areas.

"This scheme will help women to start their own small business from their homes," the government said, adding that it will soon sign MoUs with banks and other lenders. 

(Image Credits:PTI)