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Himachal Pradesh Chief Minister Thakur Sukhvinder Singh Sukhu on Thursday launched ‘Sashakt Mahila Rin Yojna’, a collateral-free loan scheme for bonafide Himachali women.
The scheme, an initiative of Himachal Pradesh State Cooperative Bank (HPSCB), will provide loans to women for pursuing their entrepreneurial dreams, engage in livelihood activities, fulfill their day-to-day needs, and uplift their families.
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At the launch, the Chief Minister lauded the efforts of HPSCB for the initiative and said the scheme aims to empower women as any eligible woman applying for the loan need not to provide any assets or collateral as security against the loan amount.
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“The absence of collateral removes a significant barrier for women, especially those who may not have valuable assets to offer as security for taking loans,” said Sukhu.
By providing financial assistance to women for self-employment and livelihood activities, the scheme will contribute to the economic empowerment of women, make them financially independent and improve their socio-economic status, said the Chief Minister, adding that the bank is offering credit facility for Rs. 21000, Rs. 51000 and Rs. 1,01,000 at a relatively low-interest rate of 8.51 percent.
Furthermore, the scheme is designed to be easily accessible as there is no requirement for margin money, he added.
“Through this new initiative of the bank, borrower women can become confident, self-sufficient and contribute meaningfully to the socio-economic fabrics of the state. The scheme also focuses on rewarding timely repayment and encouraging the borrowers to repay the loan amount in time,” said the Chief Minister.
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