Udyogini Scheme: The government provides collateral-free loans to women to start small businesses on easy terms. Applications are available if you meet the age, income limits, and provide certain required documents. Following the correct procedures may also provide subsidies.
Add informalnewz.com as a Preferred Source
Udyogini Scheme: Many women today aspire to start their own businesses, but lack of funds often hinders them. In this regard, several schemes are underway in the country to empower women financially. One such scheme is the Udyogini Scheme. This is not a new scheme; the central and several state governments have been jointly implementing this scheme for quite some time. Its purpose is to provide easy loans without any guarantee to women wishing to start a business.
What is the Udyogini Scheme?
The Udyogini Scheme was first initiated by the Karnataka government, but now, with the support of several states and the central government, it benefits women across the country. Under this scheme, women are provided collateral-free loans ranging from ₹1 lakh to ₹3 lakh. This means you don’t have to provide any security or guarantee to obtain the loan. With this amount, women can easily start a beauty parlor, boutique, sewing center, grocery, dairy, or any other small business.
How much loan is available?
The loan under this scheme is solely for starting or expanding a business. The amount ranges from ₹1 lakh to ₹3 lakh, depending on your business plan and bank approval.
What are the eligibility criteria?
There are some basic requirements for applying for the Udyogini Scheme:
Women between the ages of 18 and 55 can apply.
The woman must not have defaulted on any previous loan.
The family’s annual income should not exceed ₹1.5 lakh.
The income limit does not apply to widows or women with disabilities, meaning they can apply directly.
The following documents will be required to apply: Aadhaar card, passport-sized photo, income certificate, project report/business plan, caste certificate (if applicable), experience or training certificate (if any).
How to apply?
Applying is quite easy. You can apply by visiting any nearby bank. Additionally, online application is also available on the government’s myscheme.gov.in portal. Previously, this scheme was limited to women in Karnataka, but now women across the country benefit from it.
