Empowering Women: Odisha Extends Interest-Free Loan Scheme

Odisha's Chief Minister Mohan Charan Majhi has extended the interest-free loan scheme for women-run self-help groups, initially introduced in 2019. Under Mission Shakti, loans up to Rs 10 lakh without interest are now available, boosting women entrepreneurship and strengthening rural and urban economies.

In a significant move to boost women's entrepreneurship, Odisha Chief Minister Mohan Charan Majhi has approved the continuation of an interest-free loan scheme for women-run self-help groups under the Mission Shakti initiative. This decision will keep the scheme operational through the 2025-26 fiscal year and beyond, offering substantial financial support to women entrepreneurs.

The interest-free loan scheme allows women's self-help groups to avail loans of up to Rs 10 lakh, without bearing the burden of interest. Majhi emphasized the impact of this initiative on creating a greater number of female entrepreneurs, termed as 'Lakhpati Didis', enhancing the economic fabric of both rural and urban areas of the state.

This scheme was first launched in 2019 under the leadership of former Chief Minister Naveen Patnaik. Initially, the loan limit was set at Rs 3 lakh and has since been progressively increased, showing significant growth in governmental support for women-led enterprises.

(With inputs from agencies.)