Women's self-help groups get a boost as loan ceiling raised to Rs 30 lakh

Women's self-help groups are empowering women economically and improving their quality of life. Various benefits like loans, training, and drone technology promote women's progress.

Image Credit : google

Government schemes for women's advancement

Women's self-help groups were started to provide women with financial independence and improve their standard of living. Through small savings and loan facilities, women get the opportunity to start their own businesses or earn income through this self-help group. In rural areas, small loans help create income-generating opportunities for women living in poverty and help reduce poverty. Not only this, but training and skill development programs for women also help develop entrepreneurship and employability skills.

Image Credit : our own

Benefits for women's self-help groups

Various concessions and schemes are being implemented by the Central and State Governments for women's self-help groups. Women's self-help groups are very helpful in getting revolving fund loans, economic loans and business loans from banks. In that way, bank loan assistance worth Rs 131.80 crore was provided a few days ago to 2,028 beneficiaries belonging to 1,014 self-help groups in Tiruvallur district on behalf of the Tamil Nadu government. Women self-help groups that have been functioning for at least 6 months can avail loans. Tamil Nadu State Rural Livelihoods Mission provides interest subsidy for bank loans. Groups that repay the loan properly are eligible for this.

Image Credit : google

Drone training for women's self-help group

Further, the central government has approved the provision of drones to 15,000 women self-help groups at a cost of Rs.1261 crore. In this, 80% of the cost of drones and equipment, i.e., up to a maximum of Rs 8 lakh, is provided as a subsidy. It has been informed that the remaining amount can be obtained as a loan under the National Agricultural Infrastructure Fund facility. Drone training for women's self-help groups is widely used to spray pesticides on farmers' lands. This has created an opportunity for women to earn income. Therefore, 15 days pilot training and 10 days agriculture related training are being provided to women self help groups for using drones.

Image Credit : our own

Loan assistance for women's self-help group

Further support is provided for the production, marketing and sale of handicrafts in exhibitions. The Tamil Nadu government is further strengthening the financial support provided to women self-help groups through loan services. In this situation, under the Department of Cooperation, Food and Consumer Protection, loans worth Rs 10,997.07 crore have been provided to 1,90,499 self-help groups across the state in the last 4 years. These loans play a major role in enabling women self-help groups to start businesses, undertake business development and increase family income. Through this, financially affected women's families are greatly benefited.

Image Credit : Asianet News

Women's self-help group loan ceiling 30 lakhs

Also, as a major advancement of this scheme, the loan ceiling for self-help groups has been increased from Rs 20 lakh to Rs 30 lakh. This is a great encouragement to expand the business activities of the groups. Accordingly, a scheme has been started to provide loans to selected groups with a limit of 30 lakhs for women self-help groups who initially received assistance only up to the limit of 20 lakhs. A loan of Rs 30 lakh has been given to 15 women self-help groups in Chennai-Kottur. Through this initiative, the state government has said that women have been provided a prominent place in socio-economic development. This is an important step in the continuous efforts taken by the Tamil Nadu government to improve the standard of living of rural and urban women.