Karnataka to launch Gruha Lakshmi Cooperative Society; Women to get low-interest loans up to ₹3 lakh

The new Gruha Lakshmi Multipurpose Cooperative Society will offer affordable loans to women beneficiaries, strengthening financial independence across Karnataka.

The Karnataka government is preparing to roll out a major financial support initiative for women under its Gruha Lakshmi scheme. Beneficiaries of the programme, which provides ₹2,000 monthly assistance to women heads of households, will soon be eligible to take low-interest loans through the Gruha Lakshmi Multipurpose Cooperative Society, set to be launched on November 19, officials confirmed on Tuesday.

According to the Women and Child Development Minister Laxmi Hebbalkar, the cooperative society will offer loans up to ₹3 lakh. These loans are designed to help women pursue self-employment opportunities, manage financial emergencies, and meet essential family needs.

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Hebbalkar said the initiative aims to strengthen the financial security of women across Karnataka. “The objective is to ensure security and financial independence for women,” she noted.

The society has already begun enrolling members and plans to expand its operations to all 31 districts by the end of this month. On Tuesday, officials handed over the registration documents of the new cooperative to the minister in preparation for the launch.

The Gruha Lakshmi scheme currently supports 1.24 crore women in Karnataka. Since its launch in August 2023, the state has transferred ₹52,416 crore directly to beneficiaries under this guarantee.

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The loan facility is expected to significantly enhance the economic stability of women, giving them more avenues to build sustainable livelihoods and manage household responsibilities with greater control.