Mahila Samriddhi Yojana (MSY)

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Who will benefit from Chief Minister Mahila Samriddhi Yojana ? How to benefit? Where are the documents required? How much benefit i.e. help get? Information about it is given in this article. Which are as follows.

About Mahila Samriddhi Yojana | Chief Minister Mahila Samriddhi Yojana

Mahila Samriddhi Yojana  is a scheme launched by the Government of Gujarat for the economic development of women. An attempt has been made to make women self-reliant through this scheme.

To enable women to start their own small businesses and become economically viable, assistance is provided by the Gujarat government under the Mahila Samrudhdhi Yojna (Gujarat Backward Class Development Corporation). Mahila Samriddhi Yojana is a government scheme.  Loans are given to women through Mahila Utkarsh Yojana and  Mahila Swalamban Yojana .

But this scheme is aimed at women entrepreneurs who come from backward or poor families. They have to give financial benefits. The scheme was launched as part of the National Backward Classes Finance and Development Corporation (NBCFDC) under the Ministry of Social Justice and Empowerment. Under this scheme, the government provides micro-finance to women entrepreneurs either directly or through Self-Help Groups (SHGs).

Table of Mahila Samriddhi Yojana (MSY) | Mahila Samriddhi Yojana

Name of the scheme Mahila Samriddhi Yojana
assistance 1.25 lakhs loan at 4% simple interest
State Gujarat
objective To create self-employment for backward class women
Beneficiary Women from socially and educationally backward classes
Type of application Online application can be done.
contact Contact the Department of Social Justice and Empowerment, Government of Gujarat.

Agenda of Mukhymantri Mahila Samriddhi Yojana Mahila Samriddhi Yojana

  • Micro credit scheme for creating self employment for backward class women
  • Under this scheme, women beneficiaries can start a business of their choice.

Eligibility Criteria  for Mahila Samriddhi Yojana (MSY) | Chief Minister Mahila Samriddhi Yojana

This scheme will benefit women who come below poverty line. Eligibility requirements for such women to be a part of this scheme are mentioned below.

  • The minimum age under the scheme is 18 years.
  • Applicant’s maximum annual family income is Rs. Should not be more than three lakhs.
  • Applicants may be part of Self Help Groups (SHGs). Where at least 60% of the members should be from backward classes and remaining 40% should be from other weaker sections like physically challenged women, minorities, SC, ST etc.

Document Required For Mahila Samriddhi Yojana | Chief Minister Mahila Samriddhi Yojana (MSY)

The objective of this scheme is to provide quick and easy credit option to deserving women. So, the documentation process under MSY is very common. Most of the documents required by lenders are basic KYC documents. The list of documents required for this scheme is given below.

  • Identity proof
  • address proof
  • SHG Membership ID
  • Caste certificate, if applicable
  • Bank account details
  • Income certificate from competent authority
  • aadhar card
  • Recent passport size photographs

(MSY) Chief Minister Mahila Samriddhi Yojana Important Documents

  • Example of applicant’s income
  • Example of caste of the applicant
  • Proof of Residence (Aadhaar Card, Electricity Bill etc.)
  • A paradigm for business
  • Copy of first page of bank passbook

Lending Institutions of Mahila Samriddhi Yojana

The scheme disburses microfinance through lending institutions to enable women entrepreneurs to start their own business ventures. The institutions lending through this scheme are mentioned below.

  • State Channelizing Agencies (SCAs)
  • Regional Rural Banks (RRBs)
  • Nationalized banks

Mahila Samriddhi Yojana. Features and Benefits of Chief Minister Mahila Samriddhi Yojana

  • Since its inception, the scheme has helped many women with microfinance for their business ventures.
  • Various features and benefits of this scheme that make it a very attractive option for women entrepreneurs are mentioned below.

Loan amount for Mukhymantri Mahila Samriddhi Yojana (MSY). Mahila Samriddhi Yojana

Loans under this scheme are disbursed through Self Help Groups (SHGs) or directly to the beneficiaries. The amount of loan disbursed under the scheme per SHG is a maximum of Rs. 15,00,000 and per beneficiary a maximum of Rs. 1,00,000 is. Also, the underlying condition for SHGs is that the number of members is limited to 20 per group. The maximum loan by the lender is limited to a maximum of 95% of the project cost.

Mahila Samriddhi Yojana Calculator

The rate of interest under this scheme is very nominal. Below is the pattern of interest charged on loans under the scheme.

important points Interest rate
From NBCFDC to Lending Partner 1%
From Lending Partner to Beneficiary 4%

Tenure For Mukhymantri Mahila Samriddhi Yojana (MSY)

The loan repayment tenure under this scheme is up to a maximum of 48 months or 4 years. This period includes a moratorium period of maximum 6 months.

Benefits of  Mukhymantri Mahila Samriddhi Yojana. Chief Minister Mahila Samriddhi Yojana (MSY)

  • It gives women entrepreneurs an opportunity to become self-reliant.
  • Enables upliftment of socially and economically backward families.
  • Ensures creation of employment opportunities among women in special categories as well.
  • Minimal documentation and easy application process make it highly accessible.

Contact Details for Mahila Samriddhi Yojana Contact details for Mahila Samriddhi Yojana

For any details related to the application process or any other details related to the scheme like applicant eligibility, channel partners, SGHs etc., they can contact NBCFDC on the below contact channels.

Toll Free Number 18001023399
(Available Monday to Friday
10 AM to 5 PM)
Another telephone number +911145854400

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Information to fill application form for Mahila Samriddhi Yojana

  • The application process for availing loan under the scheme is detailed on the website.
  • Application form can be obtained from channel partners
  • It has to be submitted to the district office of the channel partner where the applicant resides.
  • The application form has to be duly filled with all relevant details as well as details of occupation and training requirements if required.
  • To complete the application process the applicant has to submit all the required documents along with the application form.
  • Application can also be submitted online by registering on the website.
  • The application will then be forwarded to the respective Channel Partner of the State/District in which the applicant resides.
  • The channel partner will then contact the applicant for further details regarding the application process.

Important Link

To apply for Chief Minister Mahila Samriddhi Yojana (MSY). Click here
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Chief Minister Mahila Samriddhi Yojana Details in Gujarati Download
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FAQ of  Mahila Samriddhi Yojana. Frequently Asked Questions for Chief Minister Mahila Samriddhi Yojana (MSY).

What is Mahila Samriddhi Yojana?

Mahila Samriddhi Yojana is a micro credit scheme. Provides loans to women entrepreneurs belonging to the Poverty Line (BPL) section or backward class of society.

What is the maximum amount available under this scheme?

The loan repayment tenure under this scheme is up to a maximum of 48 months or 4 years. This period includes a moratorium period of maximum 6 months.

What is the tenure under Mahila Samriddhi Yojana?

Tenure under the scheme is 4 years.

What is the interest rate under the scheme?

The rate of interest under the scheme is 1% for SCA and 4% for beneficiaries.

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