The Udyogini Scheme for Women Entrepreneurship

Last Updated : Nov. 14, 2022, 3:09 p.m.

Do you have a dream of being an entrepreneur? Are you a woman looking for some cheap loans or business training to grow? What do you think if you get government assistance for your business?

The Karnataka State Women Development Corporation (KSWDC) has initiated a scheme to assist women in their businesses. This scheme is called the ‘ Udyogini Scheme ‘; women can get business instructions and low or no-interest loans to become entrepreneurs.

If you are interested in this scheme and its benefits and want to know more, read this article until the end!

Overview of the Udyogini Scheme

The government of India launched this scheme in 2020 to let women in the field of business. The government’s aim in designing the Udyogini scheme was to make women self-reliant and motivate them to become businesspeople.

As per this scheme, if you are a woman and need some business loans or industry training, government and private banks can be their helping hands. This way, the country gets rich in business, and women will become financially independent.

This scheme prevents women from borrowing money at high-interest rates from money sharks. Moreover, the Udyogini scheme offers skill development training with monetary aid.

This scheme can give you a maximum of upto ₹3,00,000 in financial assistance. Furthermore, women under SC, ST, and physically challenged conditions can get interest-free loans with this scheme.

How to Apply for a Loan Under the Udyogini Scheme?

This scheme provides interest-free loans to women without any discrimination. You can receive the application for a loan from the Corporation branch of any district.

These days you can get a loan easily under the Udyogini scheme at many government and private banks. Other than these, all cooperative banks, all RRB (Regional Rural Banks), and all commercial banks under this scheme also provide you with a Udyogini loan.

The best part of the Udyogini loan is that if you run your business via this loan, you will also get a subsidy from all these financial institutes. This loan applies to 88 small industries. These industries include bakery, grocery, fish, pickle trade, beauty parlour, sewing, STD booth, etc.

The steps that need to follow for applying for a Udyogini loan are given below:

Step 1: Get a Udyogini loan form from any of the banks mentioned above. You can also visit the official website of that bank for an online application form.

Step 2: Fill out the form thoroughly by entering all the necessary details.

Step 3: Attach a photocopy of all the documents mentioned in the form.

Step 4: Submit your business loan form to the concerned bank. Step 5: After applying, you must visit the bank regularly to inquire about the loan approval.

What Are the Qualification Criteria for Getting a Loan Under the Udyogini Scheme?

Although getting a loan from this scheme is simple, you must fulfill some criteria for its approval. The eligibility criteria and terms that you need to follow to get a Udyogini loan are given below:

• Applicant must be a woman.
• Applicant’s businesses must register under the Udyogini scheme .
• Your age must be between 18 years to 55 years.
• The applicant’s family annual income must not exceed ₹1,50,000.
• The applicant’s required loan amount must not exceed ₹3,00,000.
• There is no need for any security against the Udyogini loan.
• There is no annual family income and age limit for disabled or widowed women.

What Documents Need to Be Submitted for a Loan Under the Udyogini Scheme?

The documents list that you need to submit with your loan application under this scheme are given below:

• Udyogini loan form with entered details.
• Your birth certificate.
• Photocopy of your Aadhaar card .
• Your two passport-size photographs.
• Your caste certificate, in the case of the SC/ST category.
• Photocopy of your ration card.
• Photocopy of your BPL card.
• Your income certificate.
• Photocopy of your bank passbook with some necessary details.

What Are the Benefits of the Udyogini Scheme?

The biggest benefit of this scheme is it allows women empowerment. You can become an owner of your own business.

• Till now, this scheme supported 7047 women entrepreneurs.
• Under this scheme, 5432 children get support.
• More than 1698 villages are covered under his scheme till now.
• Till today more than 53762 producers are engaged under the Udyogini scheme .

Some other benefits of this scheme are given below:

• It motivates and assists women from backward areas to become entrepreneurs.
• Women from poor and illiterate backgrounds get support from this scheme.
• This scheme makes women financially independent.
• This scheme also provides skill training that helps women with their businesses.
• This scheme helps in women’s development and increases women’s empowerment.

In Brief

The Udyogini scheme is one of the best-launched schemes by the Government of India. Today, it is very important to let women develop in business. This scheme can look for capital generation and wealth creation like obstacles. Moreover, they can make a living by themselves and show their abilities to the world.

Furthermore, with the help of this scheme, the government has also drawn an opportunity to expand the country in the field of business.