Udyogini Scheme for Women Entrepreneurs – Scheme Details, Online Apply

Udyogini Scheme helps in the enhancement of income of women entrepreneurs & contributes to the overall growth of the country. Read to know more!

21 Nov,2022 17:15 IST 5 views
Udyogini Scheme for Women Entrepreneurs – Scheme Details, Online Apply
Women's empowerment and self-sufficiency are among the primary considerations of the government of India. To ensure the welfare of women, they have introduced various initiatives and assisted them in diverse aspects of their lives. An example is the Udyogini scheme, which offers financial assistance to budding entrepreneurs in Indian villages. The program provides financial aid to poor women entrepreneurs to start their businesses.

What Is The Udyogini Yojana?

A 'Udyogini' is a woman who is an entrepreneur. The scheme encourages women entrepreneurs in rural and backward areas of the country, especially illiterate women, by providing them with financial support. Women will also receive skill development training through the program.

The ability to build microenterprises and participate in businesses enhances their status. This way, it increases an individual’s income and the family overall. It also signifies the beginning of an economic boom throughout the country.

Many public and private sector banks participate in Udyogini Scheme.

Objectives Of The Udyogini Scheme

• Permitting women to take out loans from banks and other financial institutions to earn a living wage
• Delivering lower interest rates on financial assistance to women in SC and ST or distinctive classifications
• Providing free interest advances to women without discrimination or prejudice
• Ensuring the success of the women recipients through the EDP program

Features Of The Udyogini Scheme

1. Low or Free Interest Loans

The Udyogini yojana intends to provide women with financial assistance in establishing their businesses. Funding organisations are generous in granting financial aid to women from special categories such as widows, destitute, and incapacitated. Under the plan, women in distinctive classifications get credit without interest.

2. High-Esteem Advance Sum

Udyogini offers an advance of up to three lakhs to some candidates. However, the candidates must meet the required qualification standards to authorise this sum.

3. 88 Small-Scope Industries Covered

The scheme provides advanced advantages to 88 limited-scope ventures. Also, women with business visions in agricultural fields receive advance payments without interest.

The list of 88 small-scale industries includes

• Agarbatti manufacturing
• Sound and Videocassette parlour
• Bread shops
• Banana tender leaf
• Bangles
• Salon
• Bedsheet and towel manufacturing
• Bottlecap manufacturing
• Bookbinding and notebook manufacturing
• Stick and bamboo articles manufacturing
• Flask and catering
• Chalk crayon manufacturing
• Cleaning powder
• Chappal manufacturing
• Espresso and tea powder
• Toppings
• Cotton thread manufacturing
• Layered box manufacturing
• Crèche
• The cut piece of the cloth trade
• Dairy and poultry-related trade
• Analytics lab
• Cleaning
• Dry fish trade
• Eat-outs
• Consumable oil shop
• Energy food
• Fair-price shop
• Fax paper manufacturing
• Fish stalls
• Flour mills
• Blossom shops
• Footwear manufacturing
• Fuelwood
• Gift articles
• Exercise Centre
• Handiworks manufacturing
• Family articles retail
• Frozen yoghurt parlour
• Ink manufacture
• Composing institute
• Vermicelli manufacturing
• Vegetable and fruit vending
• Wet grinding
• Jam, jelly and pickles manufacturing
• Work typing and photocopying service
• Mat weaving
• Matchbox manufacturing
• Jute carpet manufacturing
• Milk booth
• Lamb stalls
• Paper, weekly and monthly magazine vending
• Nylon button manufacturing
• Photograph studio
• Plastic articles trade
• Phenyl and naphthalene ball manufacturing
• Papad making
• Earthenware
• Strip making
• Leaf cups manufacturing
• Library
• Old paper marts
• Dish and cigarette shop
• Shikakai powder manufacturing
• Desserts shop
• Fitting
• Tea stall Dish leaf or chewing leaf shop
• Sari and embroidery works
• Security service
• Delicate coconut
• Shops and establishments
• Silk thread manufacturing
• Silk weaving
• Silkworm rearing
• Cleanser oil, soap powder and detergent manufacturing
• Writing material shop
• Printing and dyeing clothes
• Quilt and bed manufacturing
• Ragi powder shop
• Radio and tv servicing stations
• Readymade garments trade
• Land agency
• Sexually Transmitted Disease booths
• Travel service
• Instructional exercises
• Woolen garments manufacturing

4. Up To 30% Loan Subsidy

The Udyogini scheme assists women in starting and maintaining their businesses. The government proposes to offer a 30% subsidy on the loans given to women entrepreneurs to help them financially. Further, this makes loan payments more affordable and eases the financial burden.

5. Transparency In Candidate Assessment

Before extending a loan, the financial institution evaluates an applicant's eligibility through a transparent process. Udyogini scheme application forms also check the integrity of beneficiaries transparently.

Udyogini Scheme Eligibility Criteria

Udyogini scheme eligibility criteria are:

Business loans are only available to women entrepreneurs
• The borrower has never defaulted on any loan in the past
• The applicant should have a good credit score and be capable of repaying the loan

Documents Required

• Completed application form and a passport-sized photograph
• Aadhaar card and birth certificate of the applicant
• The applicant's ration card and Below Poverty Line (BPL) card
• Proof of income and address
• Caste certificate, if applicable
• Bank passbook (account number, IFSC code, bank name, branch name, MICR)
• Other documents required by the bank/NBFC

Apply For A Business Loan With IIFL Finance

If you need funds to start or grow your business, IIFL Finance can help. Apply for a business loan by visiting one of our branches or on our website. Getting a business loan is simple with our competitive interest rates, tailored features, and swift application process.

FAQ

Q1. What is the age eligibility to apply for the Udyogini scheme?
Ans. The Udyogini loan online is available to women between 18 and 55 years old.

Q2. How much loan can you get under the Udyogini scheme?
Ans. Udyogini offers up to Rs. 3 lakhs as the maximum loan to a woman entrepreneur.

Q3. Is this loan specifically for the SC/ST category?
Ans. It is available to women from other categories as well.

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