Gujarat Government Provides Interest Free Loans To Women | Ahmedabad News

AHMEDABAD: The Gujarat The government announced on Sunday that it would launch the “Chief Minister’s Women’s Enhancement Scheme” to provide interest-free loans to promote self-employment in times of the Covid-19 pandemic on September 17, birthday of Prime Minister Narendra Modi.
Under this program, more than 10,000 women would receive an interest-free financial loan.
Under this scheme, about one lakh of “Joint Liability and Winning Women’s Groups” would be set up in the state. Of which 50,000 groups would be formed in rural areas and the rest in urban areas. Each group would consist of 10 female partners. Each group would receive a loan of Rs 1 lakh. Thus, 10 lakh women would receive loans, in a phased manner, for a total amount of Rs 1,000 crore.
These loans would be made available to these women’s groups through nationalized banks, cooperative banks and RBI-licensed financial institutions.
The Chief Minister urged the banking sector to enthusiastically join this social protection program. In this context, the state government would also sign a memorandum of understanding with the banks in the near future.
The state government has also decided to waive stamp duty on these loans. And, for this purpose, a budget of Rs 175 crore has also been allocated by the state government, the chief minister said.
A provision has also been made in the program that NGOs, which work for the welfare and development of women, could also benefit from the program for their female members.
The program would be implemented in rural areas by the “Gujarat Livelihood Promotion Company” owned by the Department of Rural Development. Similarly, the program would be implemented in urban areas by ‘Gujarat Urban Livelihood Mission‘ of the Department of Urban Development.

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