Empowering women: Himachal Pradesh CM launches collateral-free loan scheme - 'Sashakt Mahila Loan Yojana'

Tags: Government Schemes

On 20th July 2023, Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu launched 'Sashakt Mahila Loan Yojana', a collateral-free loan scheme for women.

An Overview of the News

• The initiative has been launched by the Himachal Pradesh State Cooperative Bank (HPSCB) and aims to help women fulfil their daily needs to realise their entrepreneurial aspirations, engage in livelihood activities and uplift their families.

• The absence of collateral removes a significant barrier for women, especially those who lack valuable assets to offer as security for loan applications.

• 'Sashakt Mahila Loan Yojana' will provide financial assistance to women for self-employment and livelihood activities, which will contribute to their economic empowerment and financial independence.

• Through this scheme, women can improve their socio-economic status, which will have a positive impact on their lives and community.

• The Himachal Pradesh State Cooperative Bank offers three credit options under this scheme: Rs 21,000, Rs 51,000 and Rs 1,01,000, all at a relatively low interest rate of 8.51 per cent.

About Himachal Pradesh

• Formation - 1 November 1956

• Capital - Shimla and Dharamshala (Winter)

• District - 12

• Governor- Shiv Pratap Shukla

• Chief Minister - Sukhwinder Singh Sukhu

• Rajya Sabha - 3 seats

• Lok Sabha - 4 seats

Symbol of Himachal Pradesh

• Bird - Western Tragopan

• Fish - Golden Mahseer

• Flowers - Pink Rhododendron

• Mammal - Snow Leopard

• Tree - Deodar Cedar