Udyogini Scheme

The Udyogini scheme, which translates to 'women entrepreneur' in Hindi, is an initiative by the Indian government aimed at empowering women entrepreneurs throughout the country. Administered by the Women Development Corporation under the Ministry of the Government of India, the scheme seeks to encourage and support entrepreneurship among women from socioeconomically disadvantaged backgrounds. It provides financial assistance to help beneficiaries establish and grow their business ventures.

Objectives of Udyogini Scheme

The Udyogini scheme is oriented towards enabling income generation and protecting socioeconomically vulnerable women. The main objectives of the scheme are:

• Promote Financial Inclusion of Women: The scheme aims to encourage women to leverage credit facilities to pursue entrepreneurship. It facilitates access to affordable financing by providing interest-free loans without discrimination.
• Enable Skill Enhancement: By supporting skill development through entrepreneurship training programs, the scheme equips women with the capabilities to build scalable businesses.
• Support Socioeconomic Empowerment: By helping women generate independent income streams, the scheme furthers financial self-reliance. This aids in uplifting their status and decision-making capacity.
• Prevent Exploitation: The scheme eliminates the necessity for women to seek credit from exploitative private money lenders, thereby providing them with protection.

Interest Rate of Udyogini Scheme

The Udyogini Scheme provides interest-free loans to women from all sectors of society, without any discrimination or bias. This scheme emphasizes the organization and implementation of skill development training programs for women, in addition to providing financial assistance. The following are the key details of this scheme:

Udyogini Scheme Eligibility Criteria

The Udyogini Scheme aims to empower women by facilitating their participation in economic activities and encouraging entrepreneurship. The eligibility criteria for the Udyogini Scheme may include factors such as:

• The applicant must be a woman.
• The applicant should be between 18 and 55 years of age.
• The applicant's annual family income should be less than Rs.1.5 lakh.
• There is no upper income limit for women falling under special categories such as those who are disabled, widowed, or destitute.
• The scheme can be availed by businesses engaged in the small-scale industry (SSI) sector, retailers, manufacturers, self-employed professionals, traders, and other related categories.
• Must have a good credit score.

Documents Required For Udyogini Scheme

To apply for the Udyogini Scheme, you must submit the following documents:

1. A fully completed Application Form along with passport-sized photographs.
2. Applicant's Aadhaar Card and Birth Certificate.
3. Applicant's Below Poverty Line (BPL) card and Ration Card.
4. Address and Income Proofs.
5. Caste Certificate, if applicable.
6. Copy of Bank passbook containing account details, bank and branch names, holder name, IFSC, and MICR.
7. Any additional document required by the bank/NBFC.

Business Loan Offered Under Udyogini Scheme

The Udyogini Scheme is primarily offered by the Karnataka State Women's Development Corporation (KSWDC), Punjab and Sind Bank, Saraswat Bank, several other private and public sector banks and leading NBFCs. Here is a detailed overview of each:

Udyogini Scheme from Karnataka State Women’s Development Corporation (KSWDC)

Udyogini Scheme from Saraswat Bank

Udyogini Scheme from Punjab & Sind Bank (PSB)

Udyogini Scheme from Bajaj Finserv

List of Business Categories Supported Under Udyogini Scheme

Loans through the Udyogini Scheme offer subsidies from the corporation to support business activities specifically for women entrepreneurs. Here is a list of business activities supported under the Udyogini Scheme:

Steps To Apply For Udyogini Scheme

1. To apply for the Udyogini Scheme, visit the nearest bank with all the necessary documentation.
2. Complete an application form at the bank to fulfill the required bank requirements.
3. Alternatively, submit a loan application online by visiting the official websites of the banks that offer loans under the Udyogini program.
4. Address and Income Proofs.