Rs.125 crore interest concession to Mission Shakti Odisha Group: Naveen Patnaik

Bhubaneswar: The Chief Minister of Odisha Naveen Patnaik has launched an interest promotion program for self-help groups (SHGs) functioning under the Mission Shakti Odisha in the state. On the occasion, the Chief Minister also inaugurated the first Mission Shakti Bhawan in Jajpur district through video conferencing.

Under the initiative, the interest of Rs 125 crore on loans taken by self-help groups will be refunded. The interest component was transferred to the bank accounts of Mission Shakti groups worth 2.5 lakh in 30 districts.

The interest of Rs 1,200 crore on these loans will be borne by the state government as part of its initiative to strengthen Mission Shakti groups and empower women, he added.

The Chief Minister handed over the cheques to the members of the five Mission Shakti groups who were present at the launch of the programme. Whereas members of other groups of all districts and blocks participated in the program through video conference. Referring to the various steps taken by the state government to strengthen the Mission Shakti groups, the Chief Minister said that loans up to Rs.5 crore are being provided without any interest.

Similarly, revolving funds of 1 million rupees for district level federation and 50 million rupees for block federation are provided to promote women entrepreneurship. In the next five years, loans of Rs 50,000 crore will be provided to Mission Shakti Odisha without any interest. The interest on these loans of Rs 1,200 crore will be borne by the government, he said.

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