Good News for Women Self Help Groups!

The state government has taken a major decision to strengthen the financial empowerment of women self-help groups. The limit for interest-free loans provided to eligible SHGs has been increased from ₹5 lakh to ₹10 lakh. Panchayat Raj and Rural Development Minister Danasari Anasuya Seethakka said the government will bear the interest burden on loans up to ₹10 lakh taken by women groups. The government plans to spend ₹2,500 crore this year to reduce the financial burden on women.

The government has set a target of providing loans worth ₹26,621.47 crore to 4.33 lakh women self help groups during this financial year. Special plans have been prepared to provide bank loans to women groups in both rural and urban areas. Officials said financial assistance will also be given to help women establish businesses and small industries. More than 46 lakh women are currently members of self-help groups across the state.