Rashtriya Mahila Kosh Scheme

Rashtriya Mahila Kosh (RMK) is a government of India scheme established in 1993 under the Ministry of Women and Child Development. It is an apex microfinance organization, and It is a society registered under the Societies Registration Act of 1860. The goal of RMK is to give microcredit to women from marginalised groups in society. The programme aims to empower women by providing financial support and encouraging economic self-sufficiency.

Objectives of Rashtriya Mahila Kosh

Rashtriya Mahila Kosh’s key goals are as follows:

1. To provide financial aid to women from marginalized groups of society in order to help them achieve economic emancipation.
2. To award credit to women for their entrepreneurial endeavours.
3. To raise women’s awareness of various initiatives and programmes that can benefit them.
4. To support women’s socioeconomic development through training and capacity-building programmes. 

Loan Schemes of Rashtriya Mahila Kosh

Loan Promotion Scheme

RMK provides smaller loans, maximum up to Rs. 10 lakhs, to promote the activity of thrift and credit among new and smaller but potentially capable organisations having at least six months of experience in the formation of Self Help Groups (SHGs), thrift, credit and recovery management.

Main Loan Scheme

IMOs having a minimum of 3 years experience in thrift and credit activities are considered under the scheme for loans up to Rs. 200 lakhs per state and a maximum of Rs. 600 lakhs for multistate operations. 

Gold Credit Scheme

This Scheme of providing hassle-free finance has been designed for medium and large NGOs so as to provide extended moratorium and credit on easier terms by RMK, for 3 years period. The maximum credit limit under this scheme is Rs. 500 lakhs.

Housing Loan Scheme

Through its partner organizations, RMK provides loans up to a maximum of Rs. 1,00,000/- per beneficiary to SHG members for the construction of low-cost houses and repairs.

Working Capital Term Loan Scheme

WCTL is provided to the organisations for backward and forward marketing linkages of products of women SHGs/individuals and groups of entrepreneurs, including technology transfer, education for skill up-gradation and infrastructure development. The maximum loan that can be sanctioned under this scheme is Rs. 3 crores for multistate operations and Rs. 1 crore per State per IMO. The loan limit per beneficiary is (a) first loan – up to Rs. 35,000/-, (b) Repeat loan (s)- Rs. 50,000/- including existing loan plus a new loan.

Franchisee Scheme: 

Smaller NGOs of the State can avail of loans directly from franchisees appointed by RMK for that particular State. RMK gives the Credit Limit up to Rs. 500 lakhs to the Franchisee who in turn extend loans to smaller & potential NGOs in the State.

Refinance Scheme: 

RMK provides 100% refinance assistance to Mahila Cooperative Banks & Urban Co-operative Bank on finances provided by them to poor women either directly or through SHGs within the norms of the RMK Main Loan Scheme.

Nodal Agency Scheme: 

The Nodal Agency (NOA) Scheme was introduced in the year 1996-97 with the objective of taking the help of reputed and experienced organizations, which may not necessarily be borrowing partners of RMK, for identifying and assisting new NGOs to eventually link up with RMK for extending credit facilities to women for their income generating activities.

Functions of RMK

Rashtriya Mahila Kosh is responsible for the following tasks:

1. Women are given microcredit for their entrepreneurial activities.
2. Women are given financial help for their livelihood and income-generating activities.
3. Conducts training and capacity-building programmes for female entrepreneurs to help them grow their businesses.
4. Increases women’s awareness of various government schemes and programmes that benefit them.
5. Provides financial assistance to non-governmental organisations (NGOs) seeking to empower women. 

Eligibility of Rashtriya Mahila Kosh

To be eligible for the Rashtriya Mahila Kosh Scheme, the following details have to be noted:

1. The applicant applying must be a woman from a disadvantaged social group.
2. The applicant should have at least 18 years old.
3. For entrepreneurial activities, the candidate must have a solid company strategy aiming for.
4. The applicant must have a savings account with a nearby bank.

Conclusion

The Rashtriya Mahila Kosh Scheme is an excellent scheme by the Government of India to empower women from marginalised social groups. It gives women financial help for their entrepreneurial endeavours and fosters their socioeconomic growth. The plan has been successful in providing financial support to women and increasing their understanding of various government schemes and programmes.

FAQ’s on Rashtriya Mahila Kosh

Q1. Who can apply for the scheme Rashtriya Mahila Kosh?

Ans- Women from disadvantaged social groups who are at least 18 years old and have a solid business plan can apply for the scheme.

Q2. Name the types of loans available under the Rashtriya Mahila Kosh Scheme?

Ans- The scheme offers various loans, including the Loan Promotion Scheme, Main Loan Scheme, Gold Credit Scheme, Housing Loan Scheme, Working Capital Term Loan Scheme, Franchisee Scheme, and Refinance Scheme.

Q3. How can an individual apply for the Rashtriya Mahila Kosh Scheme?

Ans- Those who wanted to apply for this scheme, applicants can visit the official website of Rashtriya Mahila Kosh, fill out the application form with relevant details and attach the required documents, and submit the form to the nearest RMK office.

Q4. Explain the goal of the Rashtriya Mahila Kosh Scheme?

Ans- The Rashtriya Mahila Kosh scheme’s objective is to provide financial assistance and credit to women from marginalized social groups to help them achieve economic self-sufficiency and empower them economically.