Mahila Samriddhi Yojana (MSY)

The National Scheduled Castes Finance and Development Corporation (NSFDC) focuses on capacity building and imparting income-generating skills under the Mahila Samriddhi Yojana (MSY). It was launched on October 2, 1993 by the Ministry of Social Justice and Empowerment of the Government of India. It provides disadvantaged women with micro-credit support. This micro-financing programme aims to empower women from underprivileged backgrounds or economically backward areas. 

The Mahila Samriddhi Yojana (MSY) is a dedicated initiative designed to empower women entrepreneurs from economically and socially disadvantaged backgrounds. Implemented under the National Backward Classes Finance and Development Corporation (NBCFDC), Ministry of Social Justice and Empowerment, the scheme focuses on skill training and financial assistance.

Under this programme, groups of around 20 women receive training in various craft-based activities, with the Corporation covering both training costs and stipends. Once trained, these women are organised into Self-Help Groups (SHGs) and provided with micro-credit support to begin income-generating ventures.

The Mahila Samriddhi scheme operates through a network of partner institutions across India, ensuring wider reach and inclusion. Its main beneficiaries include:

• Self-Help Groups (SHGs): Strengthening women-led SHGs from economically weaker sections.

• Women from Backward Classes: Specifically targeting women belonging to SC, ST, and other underprivileged communities to promote financial independence and entrepreneurship. 

With the help of a loan at a nominal rate of interest, NSFDC helps women from vulnerable communities create business opportunities. This credit facility can support them in starting their own business and creating a source of income, which can support their livelihoods. Here are some features of this scheme: 

• It offers financial assistance to Self Help Groups (SHGs) consisting of up to 20 members

• The SHGs or the recipients directly receive the loans provided by this scheme

• It helps women from marginalised communities to improve their financial standing and gain independence 

• More prospects for employment are created for SC/ST women, minorities and women who are handicapped

• It enhances the number of female entrepreneurs and women-owned businesses

• Its simple application and documentation process encourages more women to apply

• Age Limit: The applicant should be between 18 and 55 years of age.
• Income Category: The scheme is meant for women from low-income families or those belonging to SC, ST, or OBC categories, as recognised by the Central or State Government. The total annual family income should not exceed ₹3 Lakhs.
• Purpose: Women aspiring to start a business or take up income-generating activities are eligible to apply.

The NSFDC has partnered with certain financial institutions for imparting loans to eligible women beneficiaries. These include:

• State Channelising Agencies (SCAs)

• Regional Rural Banks (RRBs)

• Nationalised Banks

To prove their eligibility, women need to furnish the necessary paperwork. Here is the list of documents required for the Mahila Samriddhi Yojana in addition to the application form:

• Caste certificate (if applicable)

• Recent passport-size photographs

• Income certificate from a competent authority

• SHG membership ID

• Aadhaar card

• Address proof

• Identity proof

• Bank account details

Women interested in availing the benefits of the Mahila Samriddhi Yojana can follow the steps below to apply:

1. Visit the Official Portal: Go to the official website of NSFDC or your respective State Government portal. 
2. Obtain the Application Form: Download the Mahila Samriddhi Yojana application form from the site. 
3. Fill in the Details: Complete the form carefully by providing accurate information such as name, age, contact details, and the required loan amount. 
4. Attach Supporting Documents: Submit the form along with all the necessary documents for verification. 
5. Submit to Channel Partner: Loan applications are submitted by eligible women to the District Offices of State Channelising Agencies (SCAs). 
6. Application Review: The District Office reviews and forwards the application to its Head Office for approval. 
7. Loan Sanction and Disbursement: Once approved and after fulfilling all conditions, funds are released to SCAs, Regional Rural Banks (RRBs), Public Sector Banks, or NBFC-MFIs for onward disbursement to the beneficiaries. 
8. Repayment: The beneficiary must repay the loan as per the repayment schedule set by the respective agency. 

Note: Applicants may also apply through other authorised Channelising Agencies of NSFDC, including RRBs, Public Sector Banks, or NBFC-MFIs that have signed a Memorandum of Agreement with NSFDC. 

For further queries or other issues related to this scheme, you can contact the NSFDC through the following channels:

• Toll-free Number: 18001023399 (Timing:  Monday to Friday between 10 AM and 5 PM)

• Other Telephone Number: +91 11 45854400

• Email ID: info@nbcfdc.gov.in

The Mahila Samridhi Yojana (MSY) empowers marginalized women by providing targeted credit, training and support for micro-enterprises, raising incomes and self-reliance. Tailored to community needs and delivered through SHGs, and other state-sponsored assistance agencies, it helps beneficiaries start or scale small businesses.

Interested applicants who aren’t eligible for scheme benefits or need larger capital can consider a business loan for women from banks or NBFCs to expand operations. Together, schemes like MSY and such loan options can promote resilient, inclusive economic growth for women.