Streenidhi: Rs 3 lakh loan in 48 hours for women

Vijayawada: The state government has launched a special loan scheme for women entrepreneurs through Streenidhi Andhra Pradesh, offering loans of up to Rs 3 lakh at an annual interest rate of 11 per cent, minister for MSMEs, rural poverty alleviation and NRI empowerment Kondapalli Srinivas said here on Tuesday.

The initiative aims to promote entrepreneurship among women from self-help groups (SHGs), in line with the government’s vision of creating an entrepreneur in every family. Eligible SHG women can avail themselves of loans up to Rs 3 lakh, with a maximum of three beneficiaries from each SHG. The loans will be sanctioned within 48 hours, the minister said.

He stated that subsidy-linked loans under the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) scheme, involving amounts below Rs. 3 lakh, would now be sanctioned through Streenidhi.

Between 2024-25 and October 8, 2026, Streenidhi sanctioned loans worth Rs. 14,467.12 crore to approximately 17.96 lakh women. Digital collections amounted to Rs. 4,443.13 crore, while 30,000 biometric devices worth Rs. 6 crore were distributed to village organisations. The institution recorded a loan recovery rate of 98 per cent, he said.

The loan limit for SHGs has been increased from Rs. 5 lakh to Rs. 17 lakh, while the borrowing limit for village organisations has been raised to Rs. 1.50 crore. Education and marriage loans are also being provided with a four per cent interest subsidy. Special short-term loans are being extended to women in tribal areas, he added.

The government has allocated Rs. 3,000 crore exclusively for women entrepreneurs’ loans under the 2026-27 financial plan, the Minister said.

Streenidhi also provides loan protection and accidental death assistance to support the families of borrowers in the event of the borrower’s death.

The government is committed to strengthening Streenidhi as a model institution for women’s empowerment, entrepreneurship development and digital financial inclusion, Srinivas said.

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The Hans India