Himachal Pradesh CM, Sukhvinder Singh Sukhu, introduced a new scheme called the ‘Sashakt Mahila Rin Yojna’ on July 20th, with the primary objective of economically empowering women in the state. This initiative, launched by the Himachal Pradesh State Cooperative Bank (HPSCB), seeks to provide women with loans to support their entrepreneurial aspirations, meet their daily needs, and improve their family’s well-being.
The scheme caters specifically to bonafide Himachali women, offering them financial support to fulfill their dreams and requirements. It aims to grant loans to women at affordable interest rates, namely Rs.21,000, Rs.51,000, and Rs.1,01,000, without the burden of collateral or assets as security against the borrowed amount.
By eliminating the need for collateral, the ‘Sashakt Mahila Rin Yojna’ breaks down a significant barrier, particularly for women who lack valuable assets to offer as security. This move is expected to contribute significantly to the economic empowerment of women, fostering financial independence and improving their socio-economic status in Himachal Pradesh.