Mahila Vikas Nigam hikes job, education loan limits for women

The Board of Directors (BoD) of the Himachal Pradesh Mahila Vikas Nigam has approved a substantial increase in loan limits for women beneficiaries during its 51st meeting held here on Tuesday.

The education loan limit has been raised from Rs 75,000 to Rs 3 lakh, while the self-employment loan under the employment scheme has been increased from Rs 1 lakh to Rs 3 lakh.

Health and Family Affairs Minister and Social Justice and Empowerment Minister Dhani Ram Shandil, who chaired the meeting, said the enhanced limits would encourage more women to avail of the Nigam’s schemes. He emphasised the importance of conducting well-planned awareness camps across the state to ensure women are informed about the benefits available to them.

Since its inception, the Nigam has disbursed loans exceeding Rs 69.36 crore, benefiting 13,551 women, along with interest subsidies of over Rs 2.64 crore. Shandil noted that the Nigam, formed on April 10, 1989, aims for the social and financial uplift of women. Education loans carry a minimal interest of 4 per cent, while employment loans are provided at 6 per cent interest. Women from families earning less than Rs 1 lakh per annum are eligible for these schemes.

The BoD also approved the action plan for 2025-26 and the balance sheets for fiscal years 2021-22 and 2022-23. Secretary, Social Justice and Empowerment Ashish Singhmar and other BoD members attended the meeting.