The state Congress government has already implemented many guarantee schemes for women of the state. While women are given free travel in government buses including KSRTC and BMTC, they are also given Rs. 2000 every month through the Grihalakshmi Yojana.
Similarly, already, Gruha Lakshmi beneficiaries can not only get ₹2,000, but also get a loan of up to ₹3 lakh from the government.
Gruha Lakshmi Women’s Co-operative Bank Scheme:
The state government has started ‘Gruha Lakshmi Women’s Co-operative Bank’ especially for women. Through this, you can get rid of the risk of private loan interest. The aim of this scheme is to make about 1.24 crore women in the state self-reliant. It also provides personal loans of up to ₹3 lakh at a very low interest rate to the members. Through this, the main objective of this scheme is to free women from the harassment of high interest and compound interest of private finance and give them financial independence.
What should be done to get a loan?
To get a loan of ₹3 lakh, you first have to become a member of this bank by paying ₹1,000 as a share. Then you have to save at least ₹200 every month in this bank. After saving for 6 months in a row, you can apply for a loan. Accordingly, after 6 months, you will get a loan of minimum ₹30,000 and maximum ₹3,00,000. The special thing is that the beneficiaries do not need any collateral or surety to get this loan, that is, the loan will be available without any external bank guarantee.
Where to apply?
You can contact your nearest Anganwadi worker or Taluk Child Development Project Officer (CDPO) office and get membership.
What are the benefits of this scheme for women?
- Cooperative banks do not just provide financial assistance to women, but rather help in their comprehensive empowerment.
- Women take the help of this loan and become investors and owners in their own bank.
- Since it is a government-backed cooperative society, there is no fear of its closure. Even if the government changes, the cooperative society will continue as usual.
- This scheme, which is based on the successful experience of Stree Shakti Self-Help Groups, provides complete freedom from high interest and harassment by illegal private lenders.
- Loan repayment is fixed in easy installments according to the income of the women.
The objective of this scheme
- To empower women economically
- To promote self-employment and small businesses
- To provide banking facilities to rural and urban women
- To develop women’s cooperatives
What is the eligibility?
- Generally, women should be above 18 years of age
- Can apply as a member of a self-help group or individually
- Required documents (Aadhaar, address, income certificate)
Important points to note:
This is a government-proposed scheme, and the official notification regarding district-wise registration and membership processes is available at the respective district cooperative department or Gram One/Karnataka One centers. Also, subsidies available under various government schemes can be easily availed through this bank. The main objective of establishing this bank is to further empower women financially, who get Rs 2,000 every month through the Grihalakshmi scheme. Apart from providing financial assistance, it will also help women to take up self-employment and develop financial discipline.