Mahila Samriddhi Yojana

About Mahila Samriddhi Yojana

Mahila Samridhi Yojana (MSY) supports women entrepreneurs coming from backward or economically weak backgrounds. Launched under the National Backward Classes Finance and Development Corporation (NBCFDC), Ministry of Social Justice and Empowerment, the scheme has the Corporation cover the training cost and stipend for training around 20 women at a time in suitable craft activities. Once trained, the group is formed into an SHG and given micro-credit. A wide network of channel partners nationwide implements the scheme, identifying targeted women beneficiaries and extending loans either directly or through Self-Help Groups (SHGs). The two main target groups are:

1. Self-help groups (SHGs): The scheme works to strengthen and support SHGs, especially those made up of women — an autonomous, economically disadvantaged category. 1. Women belonging to economically and socially backward classes (targeted groups): Women from underprivileged classes, particularly those falling under the SC or ST category, are covered. Objectives of Mahila Samridhi Yojana

1. To build an entrepreneurial mindset among women from minority groups in rural areas and underprivileged classes. 1. To help these women pursue their entrepreneurial goals with microfinance loans at reduced interest rates. 1. To encourage women from scheduled castes, scheduled tribes, or other minority populations to chase their aspirations. 1. To help women overcome social stigma and become financially independent. 1. To support women who cannot start their own business or career due to a lack of finance. 1. It also functions as a Micro Finance Scheme for women, offering an interest rebate.