Over the years, the Indian Government has introduced new and meaningful financial schemes for women. One such scheme that was primarily launched to promote women’s entrepreneurship is the Udyogini Scheme.
The Udyogini Scheme is regulated by the Women Development Corporation and helps women to start their businesses. Under this scheme, some special categories of women can even receive interest-free loans. Disabled, widowed, destitute, and other special categories are eligible for the interest-free loan.
The Udyogini Scheme in Karnataka was started by KSWDC (Karnataka State Women’s Development Corporation) with the support of a few banks. It was the first state where this scheme was launched. Eventually, the scheme got adopted in the rural areas of many states.
At present, the Udyogini Yojana is active in 200 villages in Madhya Pradesh, Rajasthan, Uttarakhand, Chhattisgarh, and Jharkhand. Over the years, this scheme has helped more than 50,000 women across the country.
Features of the Udyogini Scheme
Some of the special features of the Udyogini Yojana are stated in the below table:
|1||Yearly family income of eligible applicants||Rs. 1,50,000 or less No income limit for widows and disabled women|
|2||Age limit||18 to 55 years|
|3||Loan amount||Up to Rs. 3,00,000|
|4||Rate of interest||Competitive (free or subsidized loans are provided to women belonging to special categories|
Industries Covered Under Udyogini Yojana
Around 88 industries are covered under the Udyogini Scheme. Most of these industries fall in the category of small and microenterprises. Some of the popular industries that can be supported by the Udyogini Scheme are listed below:
|1||Incense sticks manufacturing|
|3||Coffee and tea shop|
|13||Ice cream Parlour|
|17||Pan masala shop|
Note: You can visit the official website of Udyogini to get the complete list of industries covered under this scheme.
Eligibility Criteria For Loans Under Udyogini Yojana
The below table will help you in understanding the eligibility criteria you must meet to obtain a loan under the Udyogini Scheme:
|2||Age limit||18 to 55|
|3||Annual Family Income||Less than or equal to Rs. 1,50,000|
|4||Widow & disabled women||No age and income limit is required for widowed and disabled women|
How to apply for the Udyogini Scheme?
You can visit the bank that offers the Udyogini Yojana loan to women. The bank will provide you with the application form and details of the scheme. You can fill out and submit this form along with the necessary documents.
Alternatively, you may also visit their official website and fill out the Udyogini Scheme online form. The online process is facilitated by many banks and eases out the entire procedure.
Documents required for the Udyogini Yojana
The following documents should be submitted to get a loan under the Udyogini Scheme:
|4||Proof of income|
|5||BPL (Below Poverty Line) Card and Ration Card|
|6||Caste Certificate (Applicable only for SC and ST applicants)|
|7||Bank passbook copy that contains details like IFSC code, MICR, account number, bank name, branch name, and account holder’s name|
|8||Passport size photos|
|9||A duly filled Udyogini Scheme online form|
Note: The bank or financial institution may ask for additional documents are per the requirements.
The Udyogini Scheme aims to bring change in the lives of women. It targets the rural and backward areas where women struggle to get financial freedom. If you want to avail the loan under this scheme, you can visit a nearby bank and understand the loan details. Currently, this loan is only applicable in a few states. Therefore, you must consider all these things before opting for a loan.
- How much loan subsidy is offered under the Udyogini Scheme?
A loan subsidy of 30% is provided to women entrepreneurs under the Udyogini Yojana. This helps them to repay the loan and reduces their financial burden.
- Is skill-development training provided under the Udyogini Scheme?
Yes, skill-development training is also provided for eligible women entrepreneurs under this scheme. You will learn the fundamentals of business like costing, business planning, understanding feasibility study of business, costing, etc. in this training program. Apart from skill development, a functional literacy program is also designed under this scheme. Under this program, women are taught how to read, write, maintain records, and do basic calculations. This program aims at providing semi-literacy to women so that they can run their businesses efficiently.
- Which are the key benefits of the Udyogini Scheme?
Udyogini Yojana was introduced by the Indian government to support women’s entrepreneurship in rural areas. It supports women who are financially backward to set up a business. It also provides them with training and makes them financially independent.
- Are funds under the Udyogini Yojana offered only for SC/ST women?
Udyogini Scheme offers funds to all women irrespective of their caste. They must only fulfill the eligibility criteria as stipulated under this scheme.