Gujarat CM announces interest-free loan program for women’s groups
Chief Minister Vijay Rupani announced on Sunday that Mukhyamantri Mahila Utkarsh Yojana (MMUY) – an interest-free loan program to women’s groups in the state – will be launched on September 17, Prime Minister Narendra Modi’s birthday.
An official statement said the government planned to provide a total loan of up to Rs 1,000 crore to these groups to be registered as a Joint Responsibility and Income Group (JLEG). The statement said that in the state’s post-Covid socio-economic lifestyle, the government is committed to ensuring that women play a key role. As part of this commitment, the statement added, the government plans to provide interest-free loans to 10 lakh women across the state under the new program.
Under the MMUY, 50,000 JLEGs will be trained in urban areas. Likewise, 50,000 of these groups will also be trained in rural areas.
Each group will have 10 female members. And these groups will receive interest-free loans from the government. The amount of interest will be borne by the state government. And the government will soon sign memoranda of understanding with the banks, the statement said. The government has also decided to waive stamp duties for loans to these groups of women.
About 2.51 registered sakhi mandalas in rural areas and around 24,000 registered sakhi mandalas in urban areas will be eligible for the benefits of the scheme provided they have repaid any bank loans or other borrowings. Approximately 27 lakh women are associated with these sakhi mandals across the state.