Udyogini Yojana: 3 Lakhs Loan from Government [Know How]

Udyogini Yojana

Introduction

Generally, the Government runs several schemes for the benefit of the General Public.

But, in this article, we are going to discuss a special scheme that was launched only for Women entrepreneurs i.e. Udyogini Yojana scheme.

Udyogini Yojana scheme is a Government of India initiative that provides financial assistance including training and support to Women aspirants, who want to establish or expand their Micro, Small, and Medium enterprises (MSMEs) with a theme of making women Self-reliant

In this article, we delve into the complete details of this scheme, its objectives, eligibility criteria, application process, and all.

Let’s have an Overview of this scheme.

Udyogini Yojana Scheme Overview

S.No.	Particulars	Description
1.	Women Entrepreneurs	Udyogini Yojana Scheme
2.	Introduced by	Karnataka government
3.	Implemented by	Central Government
4.	Launched in the year	1997-1998
5.	Eligible Persons	Women Enterprenuers
6.	Loan amount	Upto Rs.3,00,000/-
7.	Subsidy	Women Entrepreneurs

What is the Udyogini Yojana scheme?

Udyogini Yojana scheme was first introduced by the Karnataka government and later on implemented across India.

Now, Udyogini Yojana is a Central Government scheme, designed especially for Women entrepreneurs to provide subsidized loans for both rural and urban women.

The main aim of this scheme is to promote women’s entrepreneurship, financial stability, and self-reliance by providing financial support. Udyogini Yojana scheme also helps to build micro-enterprises in India which enhance India’s overall growth.

Udyogini Yojana scheme works under the supervision of the Women Development Corporation and also it comes under the Central Government’s Atma-Nirbhar programme.

Features

1. Interest-Free
The Udyogini Yojana scheme provides interest-free loans to women of all sectors who need financial assistance to further their small businesses.

Under this scheme, the Disabled, Widowed, and Dalit Women (SC/ST) women are completely given Interest-free loans. i.e. Zero Interest Loans

In the case of Women belonging to other categories, they will be given loans @10-12% p.a. This rate of interest depends on Bank regulations.

2. Loan limit
The Women entrepreneurs can avail up to Rs.3,00,000/- loan.

3. Is there any subsidy facility under this scheme?
Yes.
The Central government provides up to 30% subsidy on loans provided under this scheme that makes women entrepreneurs burden-free and more accessible.

4. For which type of business, the loans will be sanctioned?
The loans will be sanctioned to almost 88 small-scale industries.

5. Training g facility
Under this scheme, the woman will get Training with functional skills that are useful in the process of doing business like costing, pricing, etc

Financial support will be provided to the true beneficiary. The evolution process of application form and choosing a transparent beneficiary.

Also Read: Want a Business Loan up to Rs.10,00,000 from Government

Who is Eligible for Udyogini Yojana 2024?

1. The scheme is designed only for Women entrepreneurs.

2. Women aged between 18 to 55 years are eligible.

3. Applicant’s Family income should be less than Rs.1,50,000/- per annum.

4. There is no upper limit of income for the special categories of Women like disabled or widowed.

5. Women should also ensure that they have a good CIBIL Score.
If they have a bad or poor credit score due to non-payment of earlier loans, they won’t get this loan.

Which Banks Offer Udyogini Yojana Loan?

Women entrepreneurs can avail of loans from
1. Government Banks
2. Private Banks
3. All Commercial, Co-operative, Regional Rural Banks (RRB’s)

Documents required for a loan under Udyogini Yojana?

1. Two Passport-size photos should be attached to the filled Udyogini Yojana Loan application form.
2. Aadhar Card
3. Birtch certificate
4. Caste certificate
5. Ratio card, if the applicant is from Below Poverty line (BPL)
6. Income Verification Letter
7. Proof of residence
8. Bank Passbook

Udyogini Yojana Scheme Apply Online

1. Download the Loan form from any Bank’s website or Visit the nearest Bank and ask for Udyogini Yojana’s Loan form.

2. Fill out the Loan application form.

3. Submit all the above-mentioned documents in photocopy and submit the Loan form to the concerned bank.

4. After submitting the form, the bank authorities will check all the submitted documents along with the applican’t CIBIL score.

5. If all the submitted documents are fine, then, the Bank will disburse the loan to the applicant.

Conclusion

Udyogini Yojana is a good initiative by the Central Government especially for the Disabled, Widowed, and Dalit Women (SC/ST) women. As they get Interest-free loans up to Rs.3,00,000/-. It is recommended to them.

Whereas for women belonging to other categories, the rate of interest is a little higher side. But overall it is quite beneficial to them.

Women who want to stand on their feet financially by doing their own business and also Women who have existing businesses, this loan can be helpful.

If you are a Street vendor, looking for a loan up to Rs.50,000 from Central Government, then check the below article.

Rs.50,000/- Loan without Surety| PM Svanidhi Scheme Benefits

Frequently Asked Questions

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