Udyogini Scheme for Women: Avail loan up to Rs.3 lakh without interest; Know how to Apply

The government has initiated the Udyogini Scheme for the welfare and empowerment of Indian Women Entrepreneurs. This scheme has been implemented by Women Development Corporation under the Government of India. It encourages the women entrepreneurs to avail loans on liberal terms and exclusive catering of credit under direct agriculture activities, Business enterprises, Tiny SSI sector, Professional, Retail traders, and self-employed, etc.

Udyogini is a scheme that offers from rural and underdeveloped areas. There are numerous financial institutions offering loans under this scheme. This scheme mainly supports and helps illiterate women living in rural and backward areas. Udyogini Schemes help to increase the income of women and their families as well and contribute to the overall development of the nation.

By providing the necessary funding, this scheme aims to promote entrepreneurship, economical empowerment, and independence among women. The Udyogini scheme additionally aims to make micro-enterprises that support the general growth of the country.

Features of Udyogini Scheme

Interest-free loans to women

Udyogini Scheme provides interest-free loans to women, from all sections of the society, seeking to fund their small businesses. Women of special categories such as widowed, disabled or destitute, get specific privileges.

• High-value loan amount

Women can get a loan of up to Rs.3 lakh under the scheme, given if they meet the essential eligibility criteria.

• Loans available for 88 small-scale industries

The Udyogini loan can be availed to start businesses categorized under 88 small-scale industries, such as sewing, fish business, grocery, library, bakery, incense stick manufacturing, business related to dairy and poultry, etc. Interest-free loans are also available under the scheme for those women who are willing to begin a business in the agriculture sector.

• Training for skill development

One of the main objectives of this scheme is to impart practical skills to women regarding business planning, pricing, costing, feasibility, etc. with economical help.

• Up to 30% loan subsidy

The Govt. proposes up to a 30% subsidy on loans extended under this scheme.

• Transparent evaluation of the beneficiary

The evaluation method of the Udyogini Yojana application form ensures a transparent assessment for beneficiary selection.

Banks Offering this Loan

Currently, there are various government and private banks, which offers Udyogini loan. But Udyogini lending banks are Punjab and Sind Bank and Saraswat Bank. Apart from this, the Udyogini loan can also be availed from all commercial banks, from all cooperative banks, and all Regional Rural Banks (RRB) under the Udyogini scheme.

Eligibility Criteria

Women entrepreneurs who want to avail the benefits of this Scheme can fill the Udyogini loan application form to apply for funding, once they have met the below eligibility criteria:

• The candidate must be a woman

• Her age should be between 18 to 55 years

• The family income of the applicant should be less than Rs.1.5 lakh

*If women come under special categories like widowed, disabled, or destitute the upper limit for income is not applicable

Documents Required To Apply For This Scheme

• 2 passport size photo

• Aadhaar Card

• Birth certificate (10th mark sheet, certified letter from local tehsildar or village head /local Zilla Parishad

• Letter is written on the letter pad of MLA/local MP

• Photocopy of BPL Card (Below Poverty Line)

• Caste certificate (if in ST-ST category)

• Income certificate

Know-How to Apply

To apply for a loan under this scheme, first take the Udyogini loan form from the bank.

• Or if you want, you can also download the Udyogini loan form from the website of the concerned bank.

• Fill the form thoroughly.

• To fill the form, you have to submit the photocopy of all the documents mentioned above and submit the industrial loan form to the concerned bank.

• After submission of the form, you will have to go to the bank and inquire regularly till when your loan is being passed.

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