Indian Overseas Bank Launches Mahila Shaksham Scheme for Women Entrepreneurs

Chennai, Oct 19 (PTI) Public sector Indian Overseas Bank on Saturday launched the 'Mahila Shaksham' scheme designed to finance individual Women Self-Help Group members under the Centre's Deendayal Antyodaya Yojana - National Rural Livelihoods Mission initiative.

Aimed at benefitting women entrepreneurs by ensuring financial self-reliance, the scheme is in line with the Ministry of Rural Development's 'Lakhpati Didi Yojana' scheme which is designed to improve the financial standing of women self-help group members.


"The goal is to ensure that these women earn a sustainable annual income of at least Rs 1 lakh per household through financial assistance and entrepreneurial support," Indian Overseas Bank said in a statement.


Some of the key features of the IOB-Mahila Shaksham Scheme include -- financing for individual women self-help group members to foster entrepreneurship, credit support of up to Rs 10 lakh to individual members of 'Deendayal Antyodaya Yojana-National Rural Livelihoods Mission scheme' among others.


It also promotes the financial independence of women and aims to deepen credit outreach to self-help group members, the statement added.