A review of government loan schemes showed stark differences in repayment patterns: Mr. Fadnavis
MUMBAI: The Maharashtra government will integrate the Mukhyamantri Majhi Ladki Bahin Scheme (MMLBS) with other State welfare programmes to further strengthen women’s financial empowerment. Announcing the move on the occasion of International Women’s Day, Chief Minister Devendra Fadnavis said the initiative would enable women beneficiaries to access loans for business and entrepreneurial activities.
Addressing the “Nari Shakti Sangam: Gramin Mahila Netritva Parishad 2026” at Rambhau Mhalgi Prabodhini in Bhayander, Thane district, Mr. Fadnavis said a review of government loan schemes showed stark differences in repayment patterns. While the repayment rate in general loan programmes is around 50 per cent, loans extended to women through self-help groups and similar initiatives record a repayment rate of over 99.99 per cent.
Mr. Fadnavis said nearly 25 corporations provide loans to citizens to start businesses. “About 50 per cent of beneficiaries repay their loans and the remaining 50 per cent become defaulters. However, women-centric loans have a repayment rate of 99.99 per cent. We have rarely seen women who take loans default on repayment,” he said, adding that the trend was markedly different in the case of men.
The Chief Minister said around 37 lakh women had become “Lakhpati Didis” over the past one-and-a-half years. “We have set a target to make 50 lakh women Lakhpati Didis this year,” he said.
“Lakhpati Didi” is a term introduced by the Union government to describe a member of a self-help group whose household earns an annual income of Rs one lakh or more. The income is assessed over at least four agricultural seasons or business cycles, with the household maintaining an average monthly income of over Rs 10,000.
Mr. Fadnavis said the government aims to create one crore “Lakhpati Didis”, adding that women public representatives would play a key role in achieving the target. “This goal can be achieved easily with their support,” he said.
He also said the government had begun linking various welfare schemes with the MMLBS. On a pilot basis, 6,500 women are being provided interest-free loans through the Mumbai Bank. “These women have assured the bank that they will repay the loans through the stipend they receive under MMLBS (Rs 1,500 per month). At present, these 6,500 women have not only become beneficiaries of MMLBS but have also emerged as entrepreneurs,” he said.
Mr. Fadnavis said the pilot project would now be expanded across the state. The government, he added, did not want to limit the income of MMLBS beneficiaries to the Rs 1,500 monthly stipend but aimed to help them become entrepreneurs contributing to the state’s economy. “We will train our ‘Ladki Bahin’ beneficiaries in investment and financial management and help them become entrepreneurs,” he said.
The Chief Minister also praised “Umed Malls”, district-level sales centres for products made by rural women’s self-help groups, saying they would function as year-round marketplaces. “Umed Malls will provide quality products to customers at affordable prices,” he said.
Mr. Fadnavis added that the Umed Malls could eventually compete with large corporate retail chains and potentially surpass them in the coming years.
