The government of India established the Udyogini Scheme for Women Entrepreneurs 2024 with the ultimate objective of promoting and assisting women entrepreneurs in the country. The Government of India’s Women Development Corporation is in charge of implementing the Udyoginischeme. With the purpose to support and inspire women to launch and manage their enterprises throughout the impoverished, this initiative offers monetary incentives. By boosting earnings and fostering national growth, the Udyogini Scheme for Women Entrepreneurs 2024 is going to assist people and families. Applying for the program would allow qualified Indian women nationals to take advantage of its perks. For more information about this strategy, continue reading this article. There will be information on how to submit an application as well as additional steps.
The objective of the Udyogini Scheme for Women Entrepreneurs
This Udyogini Scheme for Women Entrepreneurs’ main goal is to help women start their own enterprises and become self-sustaining. Other than grant funding, it plans to provide skill-development classes. Free of charge loans will be provided to women for every sort of entrepreneurial endeavor, excluding any form of prejudice or unfairness. Karnataka State Women’s Development Corporation (KSWDC), Punjab and Sind Bank, and Saraswat Bank are the primary suppliers of the UdyoginiScheme.Moreover, a number of others include renowned NBFCs and banks from both the private and public sectors are included. Planning and executing skill development training programs for women is the primary goal of this program, in addition to offering assistance with finances.
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Short Details Of Udyogini Scheme for Women Entrepreneurs 2024
| Name | Udyogini Scheme for Women Entrepreneurs |
| Launched by | Government and Women entrepreneurs in India |
| Implemented by | Government of India’s Women Development |
| Interest Rate | Competitive, subsidized, or free for special cases |
| Annual Family Income | Rs. 1.5 lakh or less |
| Loan Amount | Max. up to Rs. 3 lakhs |
Eligibility Criteria
- Loans for businesses are only available to female entrepreneurs.
- having repaid a prior financial institution loan without missing any installments.
- A candidate with a strong credit score and the ability to repay bills
List of Supported Businesses Under the Udyogini Scheme
- Agarbatti Manufacturing
- Audio & Video Cassette Parlour
- Bakeries
- Banana Tender Leaf
- Bangles
- Beauty Parlour
- Bedsheet & Towel Manufacturing
- Book Binding And Note Books Manufacturing
- Bottle Cap Manufacturing
- Cane & Bamboo Articles Manufacturing
- Canteen & Catering
- Chalk Crayon Manufacturing
- Chappal Manufacturing
- Cleaning Powder
- Clinic
- Coffee & Tea Powder
- Condiments
- Corrugated Box Manufacturing
- Cotton Thread Manufacturing
- Crèche
- Cut Piece Cloth Trade
- Dairy & Poultry Related Trade
- Diagnostic Lab
- Dry Cleaning
- Dry Fish Trade
- Eat-Outs
- Edible Oil Shop
- Energy Food
- Fair-Price Shop
- Fax Paper Manufacturing
- Fish Stalls
- Flour Mills
- Flower Shops
- Footwear Manufacturing
- Fuel Wood
- Gift Articles
- Gym Centre
- Handicrafts Manufacturing
- Household Articles Retail
- Ice Cream Parlour
- Ink Manufacture
- Jam, Jelly & Pickles Manufacturing
- Job Typing & Photocopying Service
- Jute Carpet Manufacturing
- Leaf Cups Manufacturing
- Library
- Mat Weaving
- Match Box Manufacturing
- Milk Booth
- Mutton Stalls
- Newspaper, Weekly & Monthly Magazine Vending
- Nylon Button Manufacturing
- Old Paper Marts
- Pan & Cigarette Shop
- Pan Leaf or Chewing Leaf Shop
- Papad Making
- Phenyl & Naphthalene Ball Manufacturing
- Photo Studio
- Plastic Articles Trade
- Pottery
- Printing & Dyeing of Clothes
- Quilt & Bed Manufacturing
- Radio & TV Servicing Stations
- Ragi Powder Shop
- Readymade Garments Trade
- Real Estate Agency
- Ribbon Making
- Sari & Embroidery Works
- Security Service
- Shikakai Powder Manufacturing
- Shops & Establishments
- Silk Thread Manufacturing
- Silk Weaving
- Silk Worm Rearing
- Soap Oil, Soap Powder & Detergent Cake Manufacturing
- Stationery Shop
- STD Booths
- Sweets Shop
- Tailoring
- Tea Stall
- Tender Coconut
- Travel Agency
- Tutorials
- Typing Institute
- Vegetable & Fruit Vending
- Vermicelli Manufacturing
- Wet Grinding
- Woollen Garments Manufacturing
Required Documents
- passport-sized images
- Aadhar card and the applicant’s birth certificate of the applicant.
- Filled-out application form with evidence of address and income; BPL card application; ration card; and, if relevant, caste certificate
- A copy of the bank passbook with the account information, holder name, IFSC, and MICR
- Any additional documentation needed by the NBFC or bank
Business Loans offered by Bajaj Finserv Under the Udyogini Scheme
| Interest Rate | Interest-free loan to women from all sections of the society |
| Loan Amount | Max. up to Rs. 3 lakhs |
| Loans available for | 88 SSIs – Small Scale Industries |
| Subsidy | Up to 30% |
| Family Income Criteria | Should be less than Rs. 1.5 lakh |
| Training for Skill Development | Available |
Business Loans offered by Saraswat Bank Under Udyogini Scheme
| Micro Enterprises | Small Scale Enterprises | Medium Enterprises | |
| Interest Rate | 11.25% p.a. onwards | 11.25% p.a. onwards | 11.25% p.a. onwards |
| Loan Amount | Up to Rs. 10 lakh | From Rs. 10 lakh up to Rs. 100 lakh | From Rs. 100 lakh up to Rs. 200 lakh |
| Processing Fee | Rs. 5,000 | · Upto Rs. 10 lakh – Rs. 5000 · Above Rs. 10 lakh and Upto Rs. 25 lakh – Rs. 7000 · Above Rs. 25 lakh – Rs. 10000 | Rs. 15,000 or 1% of the loan amount whichever is lower |
| Repayment Tenure | 6 Years | 6 Years | 7 Years |
| Margin | Nil | 20%-25% lower than the Bank’s norm | 20%-25% lower than the Bank’s norm |
| Security | Hypothecation + Guarantee of Spouse or a Family member wherever required. | Hypothecation + 2 Guarantors + Collateral Security (25%) | Hypothecation + 2 Guarantors + Collateral Security (30%) |
Business Loans offered by Punjab & Sind Bank Under Udyogini Scheme
| Interest Rate – Vyapar Loan | As per rate applicable to MSME |
| Nature of loan | Term Loan or Working Capital |
| Loan Amount | Loan/limit shall vary from case-to-case basis and depend upon the purpose of loan |
| Processing Fee | Nil |
| Margin | Nil up to Rs. 25,000 |
| Security/Collateral* | Nil, up to Rs. 25,000 Above Rs. 25,000: Pledge of/Hypo. of assets created out of bank loanGuarantee of spouse or third partyCollateral security in the form of land/building property at leastdoubles the value of loan (including the value of assets in case of term loan) |
Benefits of the Udyogini Scheme for Women Entrepreneurs
- urging women who wish to begin working to submit applications for bank and various other lenders’ loans.
- granting interest-free loans to eligible female recipients in a fair and impartial manner.
- Financial assistance should be more easily accessible to women who fall under special categories like SC/ST.
- Stop women from obtaining high-interest loans from private lenders or other financial organizations.
- Make certain that the female EDP training recipients get new skills.
Udyogini Scheme for Women Entrepreneurs Application Process
In order to get started with the necessary bank specifications, applicants for this initiative, or Yojana, must visit the closest bank with all the necessary documentation and complete an application.
The web pages of the institutions that offer loans by means of the Udyogini program can be accessed by applicants to submit applications for loans online.
FAQS
What is the Udyogini Scheme for Women?
The Udyogini Scheme for Women Entrepreneurs 2024 was introduced by the government to promote the well-being and growth of female entrepreneurs in India. The Government of India’s Women Development Corporation is in charge of carrying out the Udyogini programme.
What are the benefits of this scheme?
This initiative offers women loans to inspire and enable women to launch and manage their enterprises among the impoverished.
What are the minimum eligibility criteria for this scheme?
Loans for businesses are only available to female entrepreneurs.