Odisha Government Strengthens Women Empowerment Through Interest Refund SchemeOdisha

Mission Shakti Boosts Women Entrepreneurs
Women empowerment is a key component of building a developed Odisha. To strengthen the economic growth of women, the state government has implemented an interest refund scheme on bank loans. This initiative not only reinforces the foundation of self-help groups (SHGs) but also creates greater market opportunities, encouraging women entrepreneurs to thrive.

Deputy Chief Minister Leads the Program
Today, at a program organized at Mission Shakti Bhavan titled “Interest Refund for Self-Help Groups”, Honorable Deputy Chief Minister Smt. Prabhat Parida participated. She emphasized the government’s commitment to empowering women through livelihood-oriented economic models, ensuring financial independence and growth.

Bank Loans Play a Key Role
Bank loans play a crucial role in enhancing the livelihoods and entrepreneurial mindset of SHG members. To reduce the burden of interest repayment, the Odisha government has increased the bank loan amount for SHGs and reduced the annual interest rate to zero percent for loans up to ₹10 lakh. The refunded interest is directly credited to the bank accounts of the SHGs.

Massive Interest Refund Distributed
In a significant step, Deputy Chief Minister Smt. Parida refunded interest amounting to ₹117.12 crore to 2,24,884 self-help groups. This initiative not only financially strengthens women-led enterprises but also demonstrates the government’s commitment to the state’s development and economic progress.

Participation of Key Officials
The event saw the presence of Mission Shakti Director Dr. Monica Priyadarshini, Additional Secretary of the Department Mr. Jyoti Shankar Mahapatra, senior officials of Odisha Livelihood Mission, and representatives from various banks.

Promoting Skills and Development
This initiative by the Mission Shakti Department highlights the government’s dedication to enhancing the skills, growth, and empowerment of women entrepreneurs. It further strengthens the journey of social and economic empowerment of women across Odisha.