IOB Mahila Saksham Scheme: In an effort to make women self reliant, various state governments as well as Financial institutions run many schemes. Now recently, Indian overseas Bank has launched IOB Mahila Saksham Scheme to provide financial assistance to women. Let us know which woman will be given financial assistance under this scheme?
IOB Mahila Saksham Scheme 2024
This IOB Mahila Saksham Scheme has been launched by Indian overseas Bank to encourage and support all women who want to become entrepreneurs. Under this scheme, the government aims to provide financial assistance of up to Rs 10 lakh to all the beneficiaries selected under this scheme.
The financial assistance provided under this initiative will be sent directly to the bank accounts of the beneficiaries by the direct benefit transfer (DBT) process. With the help of this scheme, women will become self reliant, financially independent and self sufficient and their social status will improve. By getting the financial assistance provided under this scheme, women will be able to grow dear business and increase their revenue significantly.
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Important summary of IOB Mahila Saksham Scheme 2024
| Scheme name | IOB Mahila Saksham Scheme |
| Launched by | Indian overseas Bank |
| Beneficiaries | Female entrepreneurs |
| Objective | Provide financial benefits |
| Year | 2024 |
| Shivam credit facility | INR 10 lakh |
| Application process | Online |
| Official website | https://www.iob.in/Mahila-Shaksham |
Objective of IOB Mahila Saksham Scheme
The main objective of IOB Mahila Saksham Scheme are to provide financial assistance and support to encourage women entrepreneurs towards their business and skills. Under this initiative the government aims to provide financial assistance of Rs 10 lakh to all the women selected as beneficiaries under this program. The financial assistance provided under this initiative will be sent directly to the bank account of the women beneficiaries.
With the help of this scheme, women will become self reliant, financially independence and self sufficient and their social status will improve. By getting the financial assistance provided under this scheme, women will be able to grow dear business and increase their revenue significantly.
Which Women Will Get Financial Assistance?
Under the IOB mahila saksham Yojana, financial assistance will be provided only to those women who are financially weak. According to media reports, this scheme has been especially designed for the economic betterment of women members of volunteer groups.
This scheme has been launched under the centers dindayal antyodaya Yojana-National rural livelihood mission initiative. This scheme is based on the lakhpati didi Yojana of the ministry of rural development to benefit women entrepreneurs by ensuring financial self reliance.
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List Eligible Business (Activities)
- Mushroom cultivation
- High value crop cultivation in greenhouse/polyhouse, floriculture etc.
- Allied activities like dairy, poultry, sericulture, pisciculture, goat and sheep rearing etc.
- Beauty parlour and salon services
- Tailoring shop
- Rural eco-tourism
- Internet cafe and photocopy
- Confectionery shops including soft drinks
- Restaurant
- Cosmetic shop
- Fruits and vegetable shop
- Stationery shops
- Papad/traditional snacks
- Flour mill
- Oil processing units
- Handicraft, weaving, textile bags, covers, basket etc.
- Pottery and ceramics
- Artificial jewellery making unit
- Bangles-glass and less item
- Agarbathi/candle making unit
- Hosiery unit
- Soap making/liquid soap/detergent/washing soap
- Metal and cane products
- Sanitary towels/napkin manufacturing unit
- Paper plates/cups/glass manufacturing
- Agri clinic and Agri business centre
Eligibility Criteria
Loan about 75000 to 2 Lakhs
| Parameter | Details |
| Loan amount | above 75000 to 2 lakhs |
| Age | 21 to 60 years (68 the end of loan tenure) |
| SHG eligibility | 2 years old and one successful bank loan cycle completed |
| Membership vintage in SHG | at least one loan cycle with SHG and to yours of membership |
| Members minimum loan | Rs 25000 |
| Business vintage | 2 years of viable business |
| CO- applicant | not required |
| Additional funds to check | – |
| Security | Prime security: hypothecation of assets created out of bank finance. Collateral security: NIL |
Loan about 2 Lakhs to 5 Lakhs
| Parameter | Details |
| Loan amount | above 2 Lakhs to 5 lakhs |
| Age | 21 to 60 years (68 the end of loan tenure) |
| SHG eligibility | 3 years old and 2 successful bank loan cycle completed |
| Membership vintage in SHG | at least 2 loan cycle with SHG and 3 Years of membership |
| Members minimum loan | Rs 40,000 |
| Business vintage | 3 years of business Experience |
| CO- applicant | Required in registered entities |
| Additional points to check | – |
| Security | Prime security: hypothecation of assets created out of bank finance. Collateral security: NIL |
Loan about 5 Lakhs to 10 Lakhs
| Parameter | Details |
| Loan amount | above 5 Lakhs to 10 lakhs |
| Age | 21 to 60 years (68 the end of loan tenure) |
| SHG eligibility | 3 years old and 2 successful bank loan cycle completed |
| Membership vintage in SHG | at least 2 loan cycle with SHG and 3 Years of membership |
| Members minimum loan | Rs 40,000 |
| Business vintage | 3 years of business Experience |
| CO- applicant | Required in registered entities |
| Additional points to check | Last 24 months records with SHGs for repayment and proper financial analysis be done. |
| Security | Prime security: hypothecation of assets created out of bank finance. Collateral security: NIL |
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Documents Required
- Aadhar card
- PAN card
- Business official documents
- Mobile number
Loan Amount
- Minimum: INR 75000 and above
- Maximum: INR up to Rs 10 lakhs
IOB Mahila Saksham Scheme 2024 Application Process
- Firstly you have to go to the official website of the IOB mahila saksham scheme.
- On the website home page click on the Apply Now option.
- A new page will appear on your desktop screen the female must enter all the details.
- Then I asked and attach all the required documents.
- After entering all the details the female citizens must quickly review it and click on the submit option to complete their process.
Contact Details
Toll free- 18008904445/18004254445
FAQs
Who launched the mahila saksham scheme 2024?
The Indian overseas Bank has launched the IOB Mahila Saksham Scheme 2024.
What is the discount in the interest rate applicable on loans sectioned under IOB mahila saksham Yojana?
0.25% discount on the applicable interest rate of normal borrowers.
The mahila saksham scheme 2024 is associated with which scheme?
The mahila paksh mein scheme 2024 is associated with the lakhpati didi Yojana.