Govt soft launches credit plan for rural women entrepreneurs

New Delhi, Oct 25 (KNN) The central government soft launched the credit scheme for rural women entrepreneurs recently to create more enterprises and jobs.

It will offer financing to individual members of a self-help group (SHG).

Currently, SHG members can avail bank loans only as groups.

Without any collateral and without any pervious experience of entrepreneurship the credit can be availed. 

On a loan up to Rs 1.5 lakh for three years on prompt repayment the government will give an interest subvention to individual borrowers.

Union rural development secretary Nagendra Nath Sinha said, “The enterprise financing scheme will create more business opportunities for women. This, in turn, will create more employment in rural belts as the entrepreneurs would need workforce to run their business.”

The scheme will help in creating additional sources of income for women and diversify income to boost the rural economy.

Women between 21 and 60 years of age are eligible for this new credit scheme.  (KNN Bureau)