Recently the Indian Overseas Bank has introduced and Social Welfare program named IOB Mahila Shaksham Scheme 2024 with the intention of providing support and financial help to help and encourage females to become entrepreneurs. According to this scheme the Government aims to provide a financial assistance up to INR 10 Lakh to all the eligible Beneficiaries females under this yojana. All those females who are interested and want to become entrepreneurs they can visit the Official Website and do registration under this IOB Mahila Shaksham Scheme online. With the help of this online portal applicants can easily check all the updates regarding this scheme and another social welfare programs.
IOB Mahila Shaksham Scheme 2024
This IOB Mahila Shaksham Scheme is launched by the Indian Overseas Bank in order to provide help and financial benefit to encourage and support all the Women who want to become Entrepreneurs. Under this scheme the Government aims to provide a financial Assistance up to INR 10 Lakhs to all selected beneficiaries under this scheme. The financial assistance provided under this initiative will be sent directly to the beneficiaries bank accounts by Direct Benefit Transfer (DBT) Process.
With the help of this scheme the females will become self Independent, financially independent and self-reliant and their social status will be improved. By getting financial assistance provided under this scheme the females will be able to grow their business and increase their revenue significantly.
Also Read- Lakhpati Baideo Scheme Form Pdf
Helpful Summary of IOB Mahila Shaksham Scheme
| Name of the scheme | IOB Mahila Shaksham Scheme |
| Introduced by | Indian Overseas Bank |
| Objective | Provide financial benefits |
| Beneficiaries | Female entrepreneurs |
| Official website | |
| Shivam credit facility | INR 10 lakh |
| Eligibility | Females of self-help group |
Also Read– Maharashtra Ladli Behna Scheme 2024
The objective of IOB Mahila Shaksham Scheme
The main objective behind this IOB Mahila Shaksham Scheme is to provide financial help and support to encourage the female entrepreneurs towards their business and skills. Under this initiative the Government aims to provide a financial assistance of INR 10 Lakhs to all the females selected as a beneficiary under this program. Financial Assistance provided under this initiative will be sent directly to the female beneficiaries bank account. With the help of this scheme the females will become self Independent, financially independent and self-reliant and their social status will be improved. By getting financial assistance provided under this scheme the females will be able to grow their business and increase their revenue significantly.
List Eligibile Bussiness (Activities)
- Mushroom cultivation
- High-value crop cultivation in greenhouse/poly house, floriculture etc.
- Allied activities like dairy, poultry, sericulture, pisciculture, Goat & sheep rearing etc.
- Beauty parlour and salon services
- Tailoring shop
- Rural eco- tourism
- Restaurant
- Internet cafe and photocopy
- Confectionary shops including soft drinks
- Groceries/stationary shops
- Fruits and vegetables shop
- Cosmetic shop
- Papad /Traditional snacks
- Flour mill
- Oil processing units
- handicrafts, weaving, textile bags, covers, baskets etc.
- Pottery & ceramics
- Artificial jewellery making unit
- Bangles – Glass and lac items
- Agarbathi /candle making unit
- Soap making/liquid soap/detergent/washing soap
- metal and cane products
- Hosiery unit
- Sanitary towels/napkin manufacturing unit
- Paper plates/cups/glass manufacturing
- Agri Clinic and Agri Business center
Required Documents
- Aadhaar Card
- Pan Card
- Mobile Number
- Business official documents
Loan Amount
- Minimum: INR 75,000 and above
- Maximum: INR Up to Rs.10,00,000
Rate of Interest
For Agriculture and allied activities
- Up to INR 10.00 lakhs: 1 YMCLR +0.20%(SP)+1.80%(RP)
For MSME activities including processing units
- Up to INR 10.00 lakhs: RLLR+0.40%(SP)+1.35%(RP)
Eligibility Criteria
Loan above Rs. 75,000 to Rs. 2 Lakhs
| Parameter | Details |
| Loan Amount | Above Rs. 75,000 to Rs. 2 Lakhs |
| Age | 21 to 60 years (60 at the end of loan tenure) |
| SHG Eligibility | 2 years old and 1 successful bank loan cycle completed |
| Membership Vintage in SHG | At least 1 loan cycle with SHG and 2 years of membership |
| Member’s Minimum Loan | Rs. 25,000 |
| Business Vintage | 2 years of viable business |
| Co-Applicant | Not required |
| Additional Points to Check | – |
| Security | Prime security: Hypothecation of assets created out of bank finance. Collateral Security: NIL |
Loan above Rs. 2 Lakhs to Rs. 5 Lakhs
| Parameter | Details |
| Loan Amount | Above Rs. 2 Lakhs to Rs. 5 Lakhs |
| Age | 21 to 60 years (60 at the end of loan tenure) |
| SHG Eligibility | 3 years old and 2 successful bank loan cycle completed |
| Membership Vintage in SHG | At least 2 loan cycle with SHG and 3 years membership |
| Member’s Minimum Loan | Rs. 40,000 |
| Business Vintage | 3 years of business experience |
| Co-Applicant | Required in registered entities |
| Additional Points to Check | – |
| Security | Prime security: Hypothecation of assets created out of bank finance. Collateral Security: NIL |
Loan above Rs. 5 Lakhs to Rs. 10 Lakhs
| Parameter | Details |
| Loan Amount | Above Rs. 5 Lakhs to Rs. 10 Lakhs |
| Age | 21 to 60 years (60 at the end of loan tenure) |
| SHG Eligibility | 3 years old and 2 successful bank loan cycle completed |
| Membership Vintage in SHG | At least 2 loan cycle with SHG and 3 years membership |
| Member’s Minimum Loan | Rs. 40,000 |
| Business Vintage | 3 years of viable business |
| Co-Applicant | Required in registered entities |
| Additional Points to Check | Last 24 months records with SHGs for repayment and proper financial analysis be done. |
| Security | Prime security: Hypothecation of assets created out of bank finance. Collateral Security: NIL |
Repayment Schedule
- 60 monthly/ 20 Quarterly instalments including the moratorium period.
Processing Fee
- The processing fees will be 0.40% of the limit sanctioned plus applicable GST (for both Term loan and working capital).
IOB Mahila Shaksham Scheme 2024 Apply Online
STEP 1: All the female citizens who are eligible they can visit the Official Website of IOB Mahila Shaksham Scheme 2024.
IOB Mahila Shaksham Scheme
STEP 2: Now after reaching the homepage of the website Applicants need to click on Apply Online button.
STEP 3: After that you’ll be redirected to a new page with an Application Form opened, Here you need to enter all the details required in the Application Form.
STEP 4: After entering all the details in the Application Form you need to recheck it and click on Submit button.
Contact Details
- Toll Free 18008904445/18004254445
FAQs
Who launched the Mahila Saksham Scheme 2024?
The Indian Overseas Bank has launched the IOB Mahila Shaksham Scheme 2024.
What is the minimum credit facility under the Mahila Saksham Scheme 2024?
The minimum credit facility of up to INR 75000 will be given to the selected female beneficiary under the Mahila Saksham Scheme 2024.
What is the main objective of launching the Mahila Saksham Scheme 2024?
The main objective of launching the Mahila Saksham Scheme 2024 is to make sure that all the female entrepreneurs in India will earn at least INR 1 lakh annually.
The Mahila Saksham Scheme 2024 is associated with which scheme?
The Mahila Saksham Scheme 2024 is associated with the Lakhpati Didi Yojana.