What is the Udyogini Scheme?
The Udyogini Scheme, started by the Central Government, helps women from low-income families start their own businesses. This scheme offers an interest-free loan of up to Rs. 3 lakh and includes a 30% subsidy on the loan amount.
First launched in Karnataka in 1997-1998, the scheme was later expanded across the entire country. Now, women from all over India can benefit from it.
Under the Udyogini Scheme, eligible women can get a loan of up to Rs. 3 lakh. Before giving the loan, the government checks if the applicant has failed to repay any previous loans. While the loan is generally interest-free, there are some conditions where interest may be charged.
The Udyogini Scheme aims to empower women by providing financial assistance to aspiring women entrepreneurs in rural and underdeveloped areas of India. This scheme offers business loans to help women start businesses in various sectors. Financial institutions are directed to provide interest-free loans to women from different sections of society.
Key Points of the Udyogini Scheme
- The Udyogini Scheme provides financial assistance to women entrepreneurs in rural and underdeveloped areas of India.
- Eligible applicants must be women aged 18-55 years with an annual family income under Rs. 1.5 lakh.
- Disabled, widowed, or destitute women have no upper income limit for eligibility.
- The scheme offers interest-free loans to disabled, Dalit, and widowed women; others pay 10-12% interest.
- Loans of up to Rs. 3 lakh are available, with a 30% subsidy on the applicant’s annual family income.
- Supported business categories include small-scale industries, retail, manufacturing, trade, and self-employment.
- The application process can be completed online or offline, requiring specific documentation and verification.
- The scheme aims to impart business planning, pricing, feasibility, and costing skills to women.
- For assistance, applicants can call the Udyogini Scheme helpline at +91-9319620533.
Udyogini Scheme Eligibility
To qualify for the Udyogini Scheme, applicants must meet the following criteria:
- Gender: Must be a woman.
- Age: Between 18 and 55 years.
- Income: Annual family income must be less than Rs. 1.5 lakh. Disabled, widowed, or destitute applicants have no upper income limit.
- Business Type: Eligible for businesses in small-scale industries, retail, manufacturing, trade, self-employment, and related categories.
- Credit Score: Must have a good credit score.
Documents Required for Udyogini Scheme
Applicants must submit the following documents to the financial institution:
- Three colored passport-size photographs.
- Ration card or voter ID card.
- Detailed Project Report (DPR) of the proposed activity.
- Certificate of training or experience related to the proposed activity.
- Family’s annual income certificate.
- Caste certificate for ST/SC applicants.
- Quotations for machinery, equipment, and capital expenses.
How to Apply for the Udyogini Scheme
Online Method:
- Visit the official website of a bank offering Udyogini Scheme loans.
- Find and select the Udyogini Scheme option, then complete the application form.
- The Child Development Project Officer (CDPO) will review and verify the application.
- The application is forwarded to the bank after spot verification.
- The bank verifies documents and the project proposal.
- Upon successful verification, a request letter for subsidy release is sent to the corporation.
- The bank disburses the loan amount to the applicant’s or supplier’s account.
Offline Method:
- Obtain the application form from the Deputy Director or CDPO office, or download it from the bank’s website.
- Visit the nearest bank offering Udyogini Scheme loans with the required documents.
- Submit the completed application form and documents to the officials.
- The bank verifies the loan request and documents.
- A request letter for subsidy release is sent to the corporation.
- The bank disburses the loan amount to the applicant’s or supplier’s account.
Udyogini Scheme Interest Rate
The Udyogini Scheme provides interest-free loans to disabled, Dalit, and widowed women. Other women may have to pay an interest rate of 10-12%. The interest rate is regulated by the financial institution providing the loan. Additionally, the scheme offers a 30% subsidy on the applicant’s annual family income.
Udyogini Scheme Benefits
- Loans up to Rs. 3 lakhs for eligible women.
- Supports businesses across 88 small-scale industries.
- Interest-free loans for agricultural businesses.
- Provides functional skills training in business planning, pricing, feasibility, and costing.
- Offers a 30% subsidy to help with loan repayment.
- Transparent application evaluation process.
List of Business Categories Supported Under Udyogini Scheme
The scheme supports a wide range of businesses including:
- Agarbatti manufacturing
- Audio-video parlours
- Bakeries
- Beauty parlours
- Dairy and poultry trade
- Handicrafts manufacturing
- Tailoring
- Travel agencies, and many more.
Udyogini Scheme Information Helpline Number
For assistance, applicants can call the Udyogini Scheme helpline at +91-9319620533. The helpline provides support for resolving issues and answering queries related to the scheme.
In conclusion, the Udyogini Scheme is a significant step by the government to support women entrepreneurs in backward areas of India. By offering financial assistance and skill development, the scheme helps women become self-reliant and financially stable.