Starting a business is no longer a challenge for women in Bihar. To promote self-employment, the Bihar Government has launched “Mukhyamantri Mahila Udyog Yojana” (MMUY). Under this scheme, any woman can take a loan up to Rs 10 lakh for business. The special thing is that this loan is interest-free and up to 50 percent of the loan will be waived off. The announcement of this scheme was a milestone for NDA in the elections. Under the Mukhyamantri Mahila Udyog Yojana, women in Bihar can take a loan of up to ₹ 10 lakh for 58 projects, which is completely interest-free. They also get 50 percent subsidy. This means that out of the loan of ₹ 10 lakh, only ₹ 5 lakh will have to be repaid to the government, out of which ₹ 5 lakh will be waived off completely. The government runs schemes to promote self-employment and eliminate unemployment. Know the eligibility criteria for a ₹ 10 lakh loan. The government will not only provide loans but will also provide skill development training, which will help start and expand the business. Let us know the eligibility criteria for loan under Mukhyamantri Mahila Udyog Sahayak Yojana. The woman seeking a loan must be a permanent resident of Bihar. He should also have at least 10th, 12th, ITI or Polytechnic Diploma. To be eligible for the loan, the age of the woman must be between 18 and 50 years. This scheme is not only for women but also for the transgender community. The business entity must be a proprietorship firm or a partnership firm. Documents required for Mukhyamantri Mahila Udyog Sahayak Yojana Strong proof of residence in Bihar 10th class certificate with date of birth 12th class certificate Proof of caste (if applicable) Certificate of disability (if applicable) Passport size photograph How to apply for MMUY To apply, you need to register first. After that select MMUY in the login/registration section on the official website. A new screen will open. Enter your Aadhaar number and password. Click on “Login” and fill in the required details. The registration form will open on the screen. Fill it up. After completing the form, submit it. After submitting your registration, log in to the portal. The application form will appear on your dashboard. You will see many options but select Mukhyamantri Mahila Udyog Yojana option. After filling the required information, click on “Submit” button. Then download the slip and print it. The loan amount will be available in installments. Not all women who fill out the online form will get the loan amount. Only shortlisted women will get money. Women will need to check their names on the portal from time to time. After being shortlisted, they will get the amount in two installments. 30 days after receiving the first installment, the second installment will be paid directly into the woman’s current account. The government money will have to be repaid by EMI after 12 months of receiving the last installment. 50% Subsidy The good thing is that you don’t have to pay any interest during this period, nor do you have to repay the entire amount. 50% subsidy will be available on loan of Rs 10 lakh, whereby only Rs 5 lakh has to be paid in installments. It helps a lot in starting new businesses and expanding existing businesses. Share this story Tags