Loan Schemes For Women Entrepreneurs Under Rashtriya Mahila Kosh

Rashtriya Mahila Kosh or RMK set up as a society in 1993 under the Societies Registration Act, 1860 to fulfill the credit requirements of poor and asset-less women in the unorganized sector. This society is a group of about 20 or more enterprises producing similar types of products or services. The governing board comprises about 16 members such as microfinance specialists, government representatives, and more. In this post, you’ll learn about the objectives and loan schemes of Rashtriya Mahila Kosh.

Aims & Objectives Of Rashtriya Mahila Kosh

The main motive was to provide micro-credit to all poor women for living support and income generating source to ensure socio-economic development. Aims and objectives of Rashtriya Mahila Kosh are as follows -

* Provide micro-credit services or facilities

* Socio-economic empowerment via multi-pronged attempts

* Promote Government schemes for women entrepreneur in India for the improvement of credit facilities for women

* Encourage the development and expansion of entrepreneurship skills among aspiring women

* To show and include participatory approaches in the women’s group organization for the best use of credit resources and self-support

Loan Schemes Of Rashtriya Mahila Kosh

Various loan schemes are organized and used under Rashtriya Mahila Kosh. Here is a list of these schemes: -

1. Loan Promotion Scheme

2. Main Loan Scheme

3. Revolving Fund Scheme

4. Nodal Agency Scheme

5. Refinance Scheme

6. Gold Credit Scheme

7. Repeat Loans Scheme

8. Franchisee Scheme

9. Housing Loan Scheme

10. Family Loan Scheme

11. Working Capital Term Loan

The amount or loan provided by RMK under these Government schemes for women entrepreneur in India differs from each other. For example, Rashtriya Mahila Kosh provides a smaller loan of a maximum amount up to Rs.10 lakhs, while the main loan scheme provides loan up to Rs. 200 lakhs for state and Rs. 600 lakhs for multistate activities or operations.

Common Eligibility Features Of All These Loan Schemes

1. The specific organization should have at least 3 years of experience in SHG formation, promotion & development, and micro-credit management.

2. Organization’s office bearer should not be the elected members of any political party.

3. Loan recoveries given to its members initially should be minimum 90%.

4. An organization has to contribute 10% of the sanctioned amount as security in terms of fixed deposit if the loan amount is more than Rs. 1 crore.

Besides these features, there are more eligibility criteria for getting the loan that differs for each scheme. So, remain updated about them.

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