The Indian government and women entrepreneurs created the scheme to care for them and help them succeed. The Udyogini Scheme is in place due to the women development corporation of India. The scheme encourages and supports poor women’s entrepreneurship by giving financial aid for company start-up. This program promotes national growth while also increasing family and individual income levels. In this post you get every necessary information regarding this scheme such as benefits, objectives, eligibility criteria, required documents and application process.
Udyogini Scheme for Women Entrepreneurs
The Women Development Corporation and the Government of India established the Udyogini Scheme. The scheme promotes and encourages female entrepreneurship among the disadvantaged by offering financial help to women who establish businesses. The scheme primarily helps and finances women living in rural and impoverished areas. Scheme helps to increase the income of individuals and families while also contributing to the country’s economic growth. Women from all walks of life receive interest free loans without prejudice or limits.
Additionally, banks provide interest free loans to female farmers who operate their own enterprises. Many commercial and governmental sector institutions, notably Punjab and Sind Bank, Saraswat Bank and the Karnataka State Women’s Development Corporation, make considerable contributions to the scheme. This organization provides financial assistance while also organizing and implementing professional development training programs for women.
Overview of Udyogini Scheme for Women Entrepreneurs
|Name of the Scheme
|Udyogini Scheme for Women Entrepreneurs
|Government and Women entrepreneurs in India
|Government of India’s Women Development
|Competitive, subsidized or free for special cases
|Rs.1.5 lakh or Less
|Max Up to Rs.3 lakh
|No Income Limit
|Widowed or Disabled Women
Objective of Udyogini Scheme for Women Entrepreneurs
The primary goal of the scheme is to give financial help to those women who desire to start their own enterprises. This scheme will improve the level of living for financially disadvantaged women in the country. Only candidates with yearly incomes of less than Rs. 1.5 lakh are eligible to benefit from the scheme. Applicants can use this initiative to launch their businesses without having to worry about finances. Applicants can utilize the loan to support their business’s capital.
Benefits of Udyogini Scheme for Women Entrepreneurs
Some of the benefits of the scheme are listed below.
- The Government of India will provide financial support to the selected candidates under this scheme.
- The applicants would receive a loan of INR 3 lakh for financial help.
- The scheme enables financially vulnerable women to launch their own enterprises.
- Make financial help more accessible for women in the SC/ST and other special groups.
- The scheme will improve the level of living for females in the country.
- Prevent women from getting high interest loans from private lenders or other financial institutions.
- This scheme will provide work chances for female nationals of the country.
Some of the eligibility criteria of the scheme are listed below.
- The applicant must be a woman.
- The initial age limitation for women was 45 years, but it has subsequently been expanded to 55 years, bringing the acceptable age range to 18 to 55.
- The previous income limit was Rs. 40,000 the new one is Rs. 1.5 lakhs.
- Only female company owners are eligible for business financing.
- Applicants with a strong credit score and consistent payment history are preferred.
Some of the required documents of the scheme are listed below.
- Passport Size Photograph
- Aadhaar Card
- Income Certificate
- Date of Birth
- BPL Card
- Ration Card
- Bank Account Details
- Caste Certificate
- Any other documents required by the bank/NBFC
List of Supported Business
The table below shows the list of supported businesses under the scheme.
|Leaf Cups Manufacturing
|Edible Oil Shop
|Shops & Establishments
|Audio & Video Cassette Parlour
|Sari & Embroidery Works
|Dry Fish Trade
|Banana Tender Leaf
|Match Box Manufacturing
|Shikakai Powder Manufacturing
|Bottle Cap Manufacturing
|Old Paper Marts
|Soap Powder & Detergent Cake Manufacturing
|Silk Thread Manufacturing
|Bedsheet & Towel Manufacturing
|Newspaper, Weekly & Monthly Magazine Vending
|Book Binding And Note Books Manufacturing
|Fax Paper Manufacturing
|Nylon Button Manufacturing
|Silk Worm Rearing
|Cane & Bamboo Articles Manufacturing
|Pan & Cigarette Shop
|Canteen & Catering
|Pan Leaf or Chewing Leaf Shop
|Chalk Crayon Manufacturing
|Phenyl & Naphthalene Ball Manufacturing
|Cotton Thread Manufacturing
|Radio & TV Servicing Stations
|Vegetable & Fruit Vending
|Plastic Articles Trade
|Coffee & Tea Powder
|Household Articles Retail
|Printing & Dyeing of Clothes
|Corrugated Box Manufacturing
|Ice Cream Parlour
|Quilt & Bed Manufacturing
|Dairy & Poultry Related Trade
|Jute Carpet Manufacturing
|Real Estate Agency
|Woolen Garments Manufacturing
|Jam, Jelly & Pickles Manufacturing
|Ragi Powder Shop
|Cut Piece Cloth Trade
|Job Typing & Photocopying Service
|Readymade Garments Trade
Applying Procedure of Udyogini Scheme for Women Entrepreneurs
- First you have to visit the closest bank with all the necessary documents
- Fill out an application form to proceed with the appropriate bank requirements.
- Candidates can also apply for a loan online by visiting the official websites of banks that offer loans under the scheme.
This plan is a flagship effort developed by the Karnataka government to give financial support to female entrepreneurs and encourage their involvement in the state’s economic growth.
Women entrepreneurs aged 18 to 55 from low-income families are eligible to apply for the scheme.
The maximum loan amount granted to a woman entrepreneur under the scheme is Rs. 3 lakh.
The primary goal for developing the scheme is to empower women in India.
A person can apply for the scheme at their local bank branch.