Kerala Sahayahastham Scheme is an interest-free loan recently launched by the Kerala government. The scheme is also known in another name CM Helping Hand Scheme. The Scheme aims to help the peoples who are severely affected by COVID 19 pandemic and lockdown. According to the Kerala govt, approximately 22.7 lacs women will be benefitted from this scheme. These 22.7 lacs women are the members of 1.95lacs neighborhood groups (NHGs) under the Kudumbashree which is a poverty eradication and women empowerment program running by the Kerala govt.
If you are from Kerala state and looking for an interest-free loan, then this article is for you. In this article, I will tell you all the details about Sahayahastham Scheme 2020. The article will cover all the necessary information such as eligibility criteria, benefits, documents required and how to apply.
Sahayahastham Scheme Highlights
|Scheme Name||Sahayahastham Interest-Free Loan Scheme / CM Helping Hand Loan Scheme|
|Launched By||Chief Minister Pinarayi Vijayan|
|Objective||To provide loans to women self help groups|
|Benefits||Loan amount of Rs5000 – Rs 20000|
|Interest rate||9% interest rate which will be borne by Kerala govt|
|Beneficiaries||Under this scheme, Members of 1.95 lakh Neighbourhood Groups (NHGs) under the Kudumbashree|
|Total number of beneficiaries||22.7 lacs women|
|Total allocation||Rs 2000 crore|
|Official Website||not announced|
Key Features of Kerala Sahayahastham Scheme 2020
Key features of CM Helping Hand Loan Schemes or Kerala Sahayahastham Scheme 2020 are:
- The govt of Kerala set a target to provide interest-free loans to the women belonging to the self-help group.
- The interest of 9% on the total amount will be born by the Kerala state govt.
- The loan amounts are provided through participating banks to neighborhood groups (NHGs).
- Members of 1.95 lakh Neighbourhood Groups (NHGs) under the Kudumbashree are the major beneficiaries of the CM Helping Hand Loan Scheme.
- The loan amount is provided to the group members ranging from 5000 to up to 20000
- Around 22.7 lacs women are benefitted from this scheme.
- Almost 40% of the loan amounts are provided through primary agricultural credit co-operative societies and the remaining amounts are provided through private banks.
Implementation of the scheme
The government allocates Rs 2000 crore for this scheme and will provide interest-free loans to the women self-help groups. The interest of 9% will be borne by the state govt. Under this scheme, SHG groups can take loans from Rs 5000 to up to Rs 20000.
Kudumashree’s extensive network helped the government reach more than 22 lakh beneficiaries in a short span of time.
The concerned authorities will provide loans to the SHGs and the groups can track the record of repayment of loan amount through a certain procedure. The interest subvention for this scheme is approximately Rs 350 crores. The loan amount will be completed in three years time. The repayment rate is very high which makes it a successful scheme. The repayment rate is over 98%, which shows the joint responsibility of members. Thiruvananthapuram tops the list in districts, with 2.9 lakh members from around 24,000 groups availed for the loans, followed by 2.56 lakh members in Thrissur from 20,000 groups.
Also Read, Pradhan Mantri Sukannya Samriddhi Yojana
The avail the benefits of Sahayahastham Scheme, applicants should meet the following eligibility criteria
- Anyone who is a legal and permanent resident of Kerela state.
- The applicant should be working in women’s self-help groups.
- Applicants should be officially registered in self-help groups.
- Applicant should possess a bank account.
Documents Required for Sahayahastham Scheme
Before applying for the scheme, applicants should keep these documents ready:
- Address proof of the applicant
- Identity Proof
- Registration Certificate issued by the self-help group.
- Bank Account proof
Note: Since the scheme Sahayahastham was launched recently, hence all the details related to the scheme is yet to be announced by the govt. We will come up with all the necessary information once govt of Kerala releases all the details. Stay tuned.