Delhi CM announces scheme offering up to Rs 10 crore collateral-free loans

Delhi CM Rekha Gupta launches collateral-free loan scheme for women entrepreneurs.

Delhi Chief Minister Rekha Gupta on Tuesday said women's active participation in the workforce is vital for the nation's development and announced a scheme to provide entrepreneurs loans of up to Rs 10 crore without any collateral security.

Addressing a gathering at the launch of a report titled "Enhancing Female Entrepreneurs in the MSME Sector in India" by Pahle India Foundation at the Ambedkar International Centre, Gupta said earlier governments viewed India's large population as a liability, but it can be turned into an asset by empowering women.

"Prime Minister Narendra Modi says that how will the country develop when half of its population stays locked inside their homes. We need every hand to work for the development of society and the nation," she said.

Calling this a "golden era" for women's empowerment, Gupta said the Delhi government is focusing on enabling women entrepreneurs to realise their potential.

"With this scheme, our entrepreneurs can achieve their goals through their ideas and hard work, with government support," she added.