Bhubaneswar: The State Government has urged all commercial banks in the State to give priority to its newly launched schemes Mission Shakti Scooter Yojana and Mo Ghar while extending credits.
Development Commissioner Anu Garg and SLBC Chairman Ashwani Kumar have asked the banks to give emphasis to the two credit-linked schemes of Odisha government during the last State Level Bankers’ Committee (SLBC) meeting held here.
She urged the banks for quick processing of the 40,000 applications received under the Mission Shakti Scooter Yojana. She also emphasized the “Mo Ghara” scheme to provide adequate financial support to the people in rural Odisha to construct pucca houses.
The DC also highlighted the scheme for reimbursing interest to MSMEs (CM-SRIM), urging all participants to pay attention to this important initiative. She expressed concern about the loan size in MSMEs not increasing as desired.
The Development Commissioner also emphasized the Government’s commitment to “banking the unbanked.” She mentioned the upcoming CSP Plus scheme and expressed satisfaction with the cooperation received from the banks, hoping it would serve as a model for other States.
Similarly, the SLBC Chairman commended Mission Shakti department for introducing the Mission Shakti scooter Yojana, which empowers women in Odisha and provides a retail business opportunity for banks.
He called on controlling heads to ensure the successful implementation of these two schemes to create impact on the lives of common people in the State.
Recently, Chief Minister Naveen Patnaik has launched the Mission Shakti Scooter Yojana to provide crucial mobility support to 2 lakh Mission Shakti federation leaders and community staff of the State.
Under the scheme, the SHG members will get full interest subvention on bank loans up to Rs 1 lakh for purchase of scooters. The government will pay Rs 528 crore as interest for the loans over the next five years.
On May 29, the State had announced the launch of ‘Mo Ghara’ (My House) to provide credit-linked financial assistance to beneficiaries who face fund crunch to complete or upgrade their houses.
Under the scheme, a beneficiary can avail housing loan up to Rs 3 lakh which can be repaid in 10 years excluding one year moratorium period in easy installments. They can opt for one of the four slabs of loan amount – Rs. 1 lakh, Rs. 1.5 lakh, Rs. 2 lakh and Rs. 3 lakh.
Those having monthly income below Rs 25,000 and those who have availed housing assistance of Rs 70,000 or below in the past would be considered for loan under ‘Mo Ghara’ scheme. The State government would pay the highest Rs 60,000 subsidy for Rs 3 lakh loan slab while vulnerable groups would get a subsidy of Rs 70,000.