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WOMEN’S EMPOWERMENT THROUGH MICROLOANS IN INDIA (AS WOMEN’S DAY SPECIAL)
Hello everyone, I’m so glad to meet you all on my other blog finally. Today, I’m going to give some information regarding microloans for women in India.
I’m from Tamilnadu Chennai, and while Chennai is a metro city, we are living in another world where the different part of Chennai you can see,
we are all the first generation graduates
before I think, no one . I’ve seen many women running little businesses on their own, but the truth is that they don’t understand what business is all about.
I’m going to talk about their business and how microloans and women’s self-help groups can support people in taking the next step in their livelihood.
Let’s get down to business.
We can see many women doing businesses, such as tailoring, selling fish, running a small eatery, selling flowers, and a small provision shop, to name a few. It is not a large-scale business, but it provides them with financial freedom. It may or may not make a significant profit, but they are doing it themselves.
1) I’d want to share a few recollections with you.
She is a flower seller around 50 to 55 years old and has been selling flowers for more than 20 years. Selling flowers is a regular activity in my area, but even though she is blind, her tiny business allows her to live a dignified life.
2) She is like my sister, whom I have known since childhood, and she is ignorant but talented.
After her husband died, life became difficult for her and her two children, so she created a business. She started selling fish, but selling fish on a small scale is not an easy job; she must walk kilometers to sell and buy fish, but she did it for the sake of her livelihood.
3) One of my friend’s mother opened a little food shop where she took orders from a nearby firm with 2 to 5 or 5 to 10 employees working; like that company that took orders and was doing well she provided lunch for them
We can see many women-owned businesses in and around my area, and they are content to live dignified lives with financial independence.
I’m convinced that such women who want to start a business but don’t have a graduate degree are the genuine businesswomen.
What exactly is Micro-lone?
It’s primarily designed to empower women, and we can see this micro loan for women in every city, district, rural areas in India. First, they form a small group called a self-help group, in which they will be a leader, secretary, and members. Next, they open a bank account in the group’s name, and everyone should be from the same location, such as the same street or neighbourhood.
They all come from humble beginnings, but how did they start their businesses when they were all paid daily? How did they establish an identity for themselves? Microloans assist them in starting a small business, giving them hope.
First, they should open a bank account in the name of their group, not their names, and deposit a sum of money in the bank for 7 to 8 months, initially this amount ranges from approximately 100 to 250 rupees per member each month, and after that, the bank will provide a loan for their group in the form of 5 lakes, which means that each member will receive 5 lakh / 10
50,000 as their first loan, and after the first loan is paid off, their lone amount will increase.
Any Self-help can approach any nationalist banks for loan or
in every municipal office they will a section called self help group loan section there we can approach
Microloans in the budget of the government
Both the Central and state governments are giving large sums of money for microloans aimed at empowering women. This year, the Tamil Nadu government allotted 20.000 crores to women’s self-help groups. This is not the first time the government has set aside a large sum of money for WSHGS. There are more than 58,463 Wshgs in the state.
Like this, every state government provides lone for WSHGs.
This is really a boom for every rural area woman.
Central Government also Provides loans and subsidies for women. Every year they are allocating
For women / TRANSWOMEN, trustworthy government loan program.
1) Cent Kalyani — MSME LOAN FOR WOMEN’S BUSINESS STARTUP
2) ANNAPURNA AND SHIRMGAAR (INDUSTRIES OF FOOD AND BEAUTY PARLOR)
3) SYND MAHILA SHAKTI (WOMEN’S BUSINESS)
4 ) SHAKTI SCHEME( RETAILS, AGRICULTURE)
5) WOMEN’S MUDRA LOAN
6) DENA SHAKTI SCHEME,
The above loan schemes are well-liked, and they will also provide loans to women and transgender people.
THESE LOANS DUE PERIODS WILL VARY FROM ONE YEAR TO FIVE YEARS, DEPENDING ON THE LOAN AMOUNT AND AFFORDABLE INTEREST RATE.
I hope I’ve covered almost everything, and I really want to write these for microloans so that everyone understands what they are and how beneficial they are to women. There are many schemes out there, but there is something missing in the process, and many women are still struggling to get loans for microbusinesses and other information. We don’t need any plans or documents to apply for a loan; all we need is an Aadhaar card, a voter id, a ration card, a bank account number, and a phone number. That solves, but I’m still not sure where the issue is.
I implore the government to make it even easier to obtain loans, and to ensure that these loans are given to the correct people, which is critical.
Happy Women’s Day to all of you!
Do what you know and enjoy.
Keep yourself safe and happy.
See you all in my another Blog