Odisha Chief Minister Naveen Patnaik launched the Interest Subvention Program for Self Help Groups

Bhubaneswar: 9/1/23:Odisha Chief Minister Naveen Patnaik launched the Interest Subvention Program for Self Help Groups (SHGs) operating under the Mission Shakti Department in the state.

Under the initiative, Rs 125 crore interest on loans taken by the Self Help Groups will be reimbursed.

The interest component was transferred to the bank accounts of the 2.5 lakh Mission Shakti groups of 30 districts.

Interest amounting to Rs 1200 crore for these loans will be borne by the state government as part of its initiative to strengthen Mission Shakti groups and empower women, he said.

The Chief Minister handed over cheques to members of five Mission Shakti groups who were present at the launch of the programme. Women members of other groups of all districts and blocks joined the programme through video conference.

Referring to various steps taken by the state government to strengthen Mission Shakti groups, the Chief Miniter said loans up to Rs five lakh are being extended without any interest. Similarly, revolving funds of Rs one crore for district level federation and Rs 50 lakh for block federation are provided to promote entrepreneurship among women. In the next five years, loans of Rs 50,000 crore will be provided without any interest. Rs 1200 crore interest for these loans will be borne by the government, he said.

On this occasion, the Chief Minister also inaugurated first Mission Shakti Bhawan in Jajpur district through video conferencing.