Chhattisgarh Mahtari Shakti Loan Scheme

Scheme Introduction: A Brief Overview

• Chhattisgarh Finance Minister Sh. OP Chaudhary has announced yet another women oriented scheme called as "Mahtari Shakti Loan Scheme".
• As the name suggests, the scheme aims to provide loan benefits to Chhattisgarh Women for their self employment.
• The Mahtari Shakti Loan Scheme offers a collateral free loan up to Rs 25,000/- to eligible women.
• With this scheme, the state government is eyeing to empower Chhattisgarh women and sisters economically and to strengthen their self-reliance.
• Scheme is also known by other names such as "Chhattisgarh Mahtari Shakti Loan Yojana" or "CG Mahtari Shakti Loan Scheme".
• The loan offered under the Mahtari Shakti Loan Scheme is collateral free, which means applicants are not required to submit any security.
• Amount undertaken under the scheme as a loan can be repaid over a period of 48 months, with an annual interest rate of 7%.
• The scheme is not for everyone because it is linked with the 'Chhattisgarh Mahtari Vandan Scheme' and exclusively available for its beneficiaries.
• Women receiving monthly assistance of Rs 1,000/- under Mahtari Vandan Scheme are eligible to apply.
• The primary objective of the scheme is to provide additional financial support to Mahtari Vandan Scheme beneficiaries for their self employment.
• With this loan amount, women will get the opportunity to start their own businesses and help them to become self reliant.
• State government launched this initiative with the CG Rajya Gramin Bank.
• It is mandatory for the women to have a bank account with CG Rajya Gramin Bank to apply for it.
• The account should be the same in which their Mahtari Vandan Scheme benefits are credited.
• Women must apply for the Mahtari Shakti Loan Scheme to receive its benefits.
• Application forms for Mahtari Shakti Loan Scheme are likely to be submitted offline.
• Once the bank approves the loan under the Mahtari Shakti Loan Scheme, the sanctioned amount will be credited to the applicant's bank account.
• Beneficiaries are not required to be worried about the assistance they received under the Mahtari Vandan Scheme as it will remain unaffected and will be credited as usual.
• For further information, women can visit the branch of CG Rajya Gramin Bank or wait for the official guidelines.
• To get the latest update about the Mahtari Shakti Loan Scheme, users must subscribe to this page.

Scheme Benefits

• Mahtari Shakti Loan Scheme offers the following benefits to beneficiary women of Mahtari Vandan Scheme : -
  • Scheme offers a loan of Rs 25,000/-.
  • Loan offered is collateral free (no security is required).
  • It comes with a repayment tenure up to 48 months.
  • Loan can be repaid at an annual interest rate of 7%.

Eligibility Requirements

• To receive a collateral free loan of Rs 25,000/- under the Mahtari Shakti Loan Scheme, beneficiaries need to meet the following eligibility criteria : -
  • Only Women are eligible.
  • Women must be domiciled residents of Chhattisgarh.
  • Applicants must be taking benefits of the Mahtari Vandan Scheme.
  • Applicants must have a bank account in Chhattisgarh Rajya Gramin Bank.

Ineligibility Requirements

• Women with the following eligibility conditions are not eligible for the loan provided under the Mahtari Shakti Loan Scheme : -
  • If women are not the beneficiaries of Mahtari Vandan Scheme.
  • If Women bank account is in another bank instead of Rural Bank.

Required Documents

• Eligible beneficiaries must provide the following documents to receive loan under the Mahtari Shakti Loan Scheme : -
  • Aadhaar Card.
  • Address Proof.
  • Passport Size Photograph.
  • PAN Card.
  • Mobile Number.
  • Mahtari Vandan Scheme application number.
  • Bank Account Details.
  • Others as requested by the bank officials.

Steps to Apply

• Eligible Applicants can apply for the Mahtari Shakti Loan Scheme.
• As the details are not available, it is expected that the scheme applications are likely to be submitted offline.
• Mahtari Shakti Loan Scheme Application Form can be obtained from Chhattisgarh Rajya Gramin Bank.
• Applicants need to fill in all the details correctly in the received application form.
• Attach the latest passport size photograph and copies of required documents.
• Submit this duly filled application form to the bank officials.
• Submitted applications will be reviewed by the bank authority.
• Upon verifying successfully, the loan amount will be credited to the applicants respective bank account.
• Note: The procedure stated above is based on assumptions as authority yet to share the application details.
• Once we have the exact details we will update them here.
• To know more about the application process, applicants are advised to contact the CG Rajya Gramin Bank.

Relevant Links

• Mahtari Shakti Loan Scheme Application Form can be obtained from CG Rajya Gramin Bank.
• Mahtari Shakti Loan Scheme Guidelines are yet to be released by the officials.
• Women and Child Development Department, Chhattisgarh.
• Chhattisgarh Rajya Gramin Bank Website.

Contact Information

• CG Rajya Bank Toll Free Number : - 18002332300
• CG Rajya Bank Email Help Desk: - care@cgbank.in
• Mahtari Shakti Loan Yojana Helpline Number is currently Unavailable.