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IOB Launches 'IOB-Mahila Shaksham Scheme' to Support and Empower Women Entrepreneurs.

Banking & Finance | Dated: 30 Oct 2024

Indian Overseas Bank (IOB) has introduced the 'IOB-Mahila Shaksham Scheme', designed to empower individual women members of Self Help Groups (SHGs) by supporting their entrepreneurial ventures.

🎯 Key Highlights:

  • - The scheme also complements the Ministry of Rural Development's 'Lakhpati Didi Yojana', aimed at fostering financial independence among women.
  • - Designed specifically for women entrepreneurs, including those running Small and Medium Enterprises (SMEs).

💡 Other Important Facts:

  • (i) This initiative is part of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), providing financial assistance to women SHG members for their business activities.
  • (ii) As part of IOB’s commitment to enhancing women's economic participation, the scheme also focuses on improving their access to financial resources.

📚 Test Your Knowledge:

Which bank has recently launched the IOB-Mahila Shaksham Scheme?

Correct Answer: Indian Overseas Bank

🚀 Quick Recap:

About IOB

  • Founder : M. Ct. M. Chidambaram Chettiar
  • Headquarters: Chennai