The Central Government introduced the Udyogini Yojana Scheme to assist women from households with lower incomes in starting their own businesses. A Rs. 3 lakh interest-free loan would be given to women from poor and middle class backgrounds under this plan to help them launch their companies. Furthermore, there will be a 30% loan subsidy offered.
This is not a brand-new program—Karnataka implemented it between 1997 and 1998. But later, the national government implemented it across the board, and as a result, all women in the country are currently able to take use of this program. Under this plan, eligible women can get loans up to Rs. 3 lakh. Before granting this loan, the government will check to see if you have a history of defaulting on loans. This loan does not contain interest; nonetheless, there are situations in which interest may be assessed.
Udyogini Yojana :Eligibility Criteria
- A woman must be the applicant.
- Under this system, the applicant’s business must be registered.
- The candidate must be between the ages of 18 and 55.
- The applicant’s household should make no more than ₹1,50,000 per year.
- The needed loan amount for the applicant cannot be more than ₹3,00,000.
- Age restrictions and yearly family income do not apply to women who are disabled or widowed.
Udyogini Yojana : Scheme Benefits
- Financial assistance
- Small scale industries coverage
- Skill development and training
- Interest free loans for agriculture sector
- Loan subsidy for repayment capacity
- Counselling and guidance
Udyogini Yojana :Important Documents List
- BPL Ration Card
- Caste Certificate (If You Belong To SC/ST)
- Certificate of training or experience for the business for which you want loan.
- Income Certificate
- Quotation of the capital expenditure for machinery, tools etc. will be required in the loan taken for the business.
- An estimate for the capital costs of equipment, tools, etc., must be included in the loan application for the business.
- Aadhar Card
- Bank Account Statement
- Address Proof
- Mobile Number
Udyogini Yojana :Objective
Providing women with the required financial assistance is the primary goal of this program, which also aims to empower them financially and encourage entrepreneurship. Constructing small businesses that contribute to the nation’s general development is another of the Udyogini scheme’s key goals.
Which Banks Are Offering Loans Under Udyogini Scheme?
Under the Udyogini system, loans are provided by a number of commercial banks, private banks, district cooperative banks, regional rural banks (RRBs), and non-banking financial entities. It primarily consists of:
- Punjab and Sind Bank
- Saraswat Bank
- Karnataka State Women’s Development Corporation (KSWDC)
- Bajaj Finserv
Udyogini Yojana :How to apply?
- If you would want to apply for a loan under the Udyogini scheme, go to the nearest government bank. This scheme’s application process is unavailable.
- Go to the bank, complete the application, and include any necessary paperwork with it.
- Send the application form straight to the bank after filling it out.
- After your application has been reviewed, if everything checks out, you should receive the loan within 8 to 10 days.
- Once your loan has been accepted, the Corporation will request for the subsidy to be given.
