Updated on: Apr 17th, 2024
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17 min read
In recent years, there has been a significant growth in the number of women entrepreneurs in India. Nevertheless, despite their massive growth in the business world, women entrepreneurs face many problems, including limited access to funds.
The government has launched several initiatives to promote women's empowerment in India. One such scheme is the Udyogini scheme, which offers financial assistance to women in rural and under-developed areas. In this article, we will talk about the Udyogini scheme, its eligibility criteria, the documents required and the application process.
One of the significant concerns of the Government of India is to empower the Indian women and make them Atma Nirbhar. Hence, the government launched the Udyogini scheme to provide financial assistance to budding women entrepreneurs in underdeveloped and rural areas of India.
Moreover, this scheme empowers poor women entrepreneurs to start businesses with financial assistance. Under this scheme, beneficiaries can avail business loans to start businesses in different sectors. The government has directed financial institutions to offer interest-free business loans to women from various sections of society.
Udyogini scheme focuses on empowering women by enabling them to participate in economic activities and boost women's entrepreneurship in India. Here are the eligibility criteria for the Udyogini scheme:
When you want to apply for the Udyogini Scheme, you must submit the following documents to a financial institution:
When it comes to applying for the Udyogini Scheme, applicants can use online and offline mediums. Here are a few simple steps applicants can follow to apply for the Udyogini scheme.
Here are a few simple steps applicants can follow to apply for the Udyogini scheme online:
Step 1: Visit the bank’s official website offering loans under the Udyogini scheme.
Step 1: Visit the bank’s official website offering loans under the Udyogini scheme.
Step 2: Look for the Udyogini scheme option from the navigation bar and click the link to complete the application form.
Step 3: CDPO will scrutinise your application and forward it to the selection committee after spot verification.
Step 4: After that, they will examine your application form and forward it to the bank.
Step 5: They will verify your documents and project proposal to process your loan application.
Step 6: After successful verification, they will send a request letter to the corporation for the subsidy release.
Step 7: The bank will release the loan amount once they approve your loan application.
Step 8: They will disburse the loan amount directly to your bank account or supplier’s account for equipment, machinery or other capital expenditures.
You can follow these simple steps to apply for the Udyogini scheme via offline mode:
Step 1: Get the application form from the Deputy Director or CDPO office or visit the bank’s official website that offers loans under the Udyogini scheme.
Step 2: You must visit the nearest bank that offers a loan under the Udyogini scheme with all the required documents.
Step 3: Fill out the application form to submit it to the officials along with the required documents.
Step 4: They will verify your loan requests and examine documents and project proposals.
Step 5: After that, they will process your loan application and send a request letter to the corporation to release the subsidy.
Step 6: Once they approve your loan application, the bank disburses the amount to your bank account or directly to suppliers’ accounts for machinery, equipment and other capital expenditures.
Udyogini scheme offers interest-free loans to women seeking to finance their small businesses, making them Atma Nirbhar. The disabled, Dalit and widows are eligible for interest-free loans under this scheme, and women belonging to other categories have to pay 10% to 12% interest on the loan amount.
However, the financial institutions regulate the interest rate from where you are applying for this scheme. Moreover, under this scheme, you can get a 30% subsidy on your family’s annual income.
Here are some benefits of the Udyogini scheme that you will get when you avail this scheme:
Here is a list of business categories supported under the Udyogini scheme:
In case you face trouble availing yourself of the benefits of the Udyogini scheme, you can call their information helpline number at +91-9319620533. They will help you resolve your issues and answer your queries related to this scheme.
Therefore, to motivate and assist women entrepreneurs in the backward areas of India, the government has launched the Udyogini scheme. It financially assists them in setting up a business by opting for loans at zero or low interest rates and becoming Aatmanirbhar. Hence, the government helps women entrepreneurs to impart skills and become financially stable.
Related Government Schemes:
Delhi Mukhyamantri Mahila Samman Scheme
Disability Pension Indian Army
Senior Citizen Card - Application Form, How To Apply
Mahtari Vandan Yojana in Chhattisgarh
Ladli Behna Yojana
The Udyogini scheme in India empowers women entrepreneurs by offering financial assistance through business loans. Eligibility criteria include being a woman aged 18-55 with an annual income below Rs. 1.5 lakh. Required documents include photographs, income certificate, and project proposal. Application can be done online or offline. Interest rates vary based on applicant categories. Benefits include up to Rs. 3 lakh loans and support for various business categories.