GUWAHATI: Assam cabinet, in its recent meeting, has announced an initiative aimed at promoting urban women entrepreneurs across the state. The initiative, known as Mukhyamantri Mahila Udyamita Abhiyan-Nogoria, will be implemented by the Assam State Urban Livelihood Mission Society in phased manner.
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Under Phase I of the program, eligible members of Self-Help Groups (SHGs) will be provided with an Entrepreneurship Fund of ₹10,000 as seed capital to kickstart their own enterprise or business venture. Moreover, SHG members who already have existing enterprises will also receive the Entrepreneurship Fund to expand their current ventures or initiate new ones.
Moving to Phase II, upon proper utilization of the seed capital, members will have the opportunity to avail a loan of at least ₹25,000 from banks. In this phase, the government will provide a Capital Subsidy of 50% of the loan amount, capped at ₹12,500 or whichever is lower, upon repayment of the loan.
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In Phase III, upon successful repayment of the loan obtained in Phase II, interested beneficiaries will be assisted in accessing individual bank credit of a higher amount. Additionally, the government will provide a 3% interest subvention on the repayment of the loan.