Udyogini Scheme for Women Entrepreneurs 2024 – Apply Online & Check Eligibility

For the growth and support of women entrepreneurs in India, the government launched the Udyogini Scheme for Women Entrepreneurs 2024. This scheme is managed by the Women Development Corporation of India. The main goal of the Udyogini Scheme is to give financial assistance to women, especially from underprivileged backgrounds, to help them start and grow their businesses. This scheme not only helps individual women but also supports families by increasing their income and contributing to national development. All interested women in India can apply and benefit from this scheme. Keep reading for more details on how to apply for the Udyogini Scheme 2024 and the application process!

Udyogini Scheme for Women Entrepreneurs
Udyogini Scheme for Women Entrepreneurs

Udyogini Scheme for Women Entrepreneurs Objective

  • The primary objective of this Udyogini Scheme for Women Entrepreneurs is to assist women in becoming self-sufficient by launching their businesses. It intends to offer skill-development courses in addition to financial assistance. Without any discrimination and injustice, interest-free loans will be given to women for any business venture.
  • The main providers of the Udyogini Scheme are the Punjab and Sind Bank, Saraswat Bank, and Karnataka State Women’s Development Corporation (KSWDC).Also, several other top NBFCs and private and public sector banks. In addition to providing financial support, the main objective of this program is to plan and implement skill development training programs for women.

Udyogini Scheme for Women Entrepreneurs – Highlights

Name Udyogini Scheme for Women Entrepreneurs
Launched by Government and Women Entrepreneurs in India
Implemented by Government of India’s Women Development
Interest Rate Competitive, subsidized, or free for special cases
Annual Family Income Rs. 1.5 lakh or less
Loan Amount Max. up to Rs. 3 lakhs

Eligibility Criteria

  • Only female entrepreneurs are eligible for business loans.
  • Not having missed any payments on a previous loan from a financial institution
  • A candidate who can repay their debts and has a good credit score

List of Supported Businesses Under the Udyogini Scheme

  1. Agarbatti Manufacturing
  2. Audio & Video Cassette Parlour
  3. Bakeries
  4. Banana Tender Leaf
  5. Bangles
  6. Beauty Parlour
  7. Bedsheet & Towel Manufacturing
  8. Book Binding And Note Books Manufacturing
  9. Bottle Cap Manufacturing
  10. Cane & Bamboo Articles Manufacturing
  11. Canteen & Catering
  12. Chalk Crayon Manufacturing
  13. Chappal Manufacturing
  14. Cleaning Powder
  15. Clinic
  16. Coffee & Tea Powder
  17. Condiments
  18. Corrugated Box Manufacturing
  19. Cotton Thread Manufacturing
  20. Crèche
  21. Cut Piece Cloth Trade
  22. Dairy & Poultry Related Trade
  23. Diagnostic Lab
  24. Dry Cleaning
  25. Dry Fish Trade
  26. Eat-Outs
  27. Edible Oil Shop
  28. Energy Food
  29. Fair-Price Shop
  30. Fax Paper Manufacturing
  31. Fish Stalls
  32. Flour Mills
  33. Flower Shops
  34. Footwear Manufacturing
  35. Fuel Wood
  36. Gift Articles
  37. Gym Centre
  38. Handicrafts Manufacturing
  39. Household Articles Retail
  40. Ice Cream Parlour
  41. Ink Manufacture
  42. Jam, Jelly & Pickles Manufacturing
  43. Job Typing & Photocopying Service
  44. Jute Carpet Manufacturing
  45. Leaf Cups Manufacturing
  46. Library
  47. Mat Weaving
  48. Match Box Manufacturing
  49. Milk Booth
  50. Mutton Stalls
  51. Newspaper, Weekly & Monthly Magazine Vending
  52. Nylon Button Manufacturing
  53. Old Paper Marts
  54. Pan & Cigarette Shop
  55. Pan Leaf or Chewing Leaf Shop
  56. Papad Making
  57. Phenyl & Naphthalene Ball Manufacturing
  58. Photo Studio
  59. Plastic Articles Trade
  60. Pottery
  61. Printing & Dyeing of Clothes
  62. Quilt & Bed Manufacturing
  63. Radio & TV Servicing Stations
  64. Ragi Powder Shop
  65. Readymade Garments Trade
  66. Real Estate Agency
  67. Ribbon Making
  68. Sari & Embroidery Works
  69. Security Service
  70. Shikakai Powder Manufacturing
  71. Shops & Establishments
  72. Silk Thread Manufacturing
  73. Silk Weaving
  74. Silk Worm Rearing
  75. Soap Oil, Soap Powder & Detergent Cake Manufacturing
  76. Stationery Shop
  77. STD Booths
  78. Sweets Shop
  79. Tailoring
  80. Tea Stall
  81. Tender Coconut
  82. Travel Agency
  83. Tutorials
  84. Typing Institute
  85. Vegetable & Fruit Vending
  86. Vermicelli Manufacturing
  87. Wet Grinding
  88. Woollen Garments Manufacturing

Required Documents

  • passport-size photos
  • Aadhaar Card and Birth Certificate of the Applicant
  • Completed Application Form with Proof of Address and Income; Application for Below Poverty Line (BPL) Card; Ration Card; and, if applicable, Caste Certificate
  • Bank passbook copy, including account details, bank and branch names, holder name, IFSC, and MICR
  • Any other paperwork that the bank or NBFC requires

Business Loans offered by Bajaj Finserv Under the Udyogini Scheme

Interest Rate Interest-free loan to women from all sections of the society
Loan Amount Max. up to Rs. 3 lakhs
Loans available for 88 SSIs – Small Scale Industries
Subsidy Up to 30%
Family Income Criteria Should be less than Rs. 1.5 lakh
Training for Skill Development Available

Business Loans offered by Saraswat Bank Under Udyogini Scheme

Micro Enterprises Small Scale Enterprises Medium Enterprises
Interest Rate 11.25% p.a. onwards 11.25% p.a. onwards 11.25% p.a. onwards
Loan Amount Up to Rs. 10 lakh From Rs. 10 lakh up to Rs. 100 lakh From Rs. 100 lakh up to Rs. 200 lakh
Processing Fee Rs. 5,000 · Upto Rs. 10 lakh – Rs. 5000 · Above Rs. 10 lakh and Upto Rs. 25 lakh – Rs. 7000 · Above Rs. 25 lakh – Rs. 10000 Rs. 15,000 or 1% of the loan amount whichever is lower
Repayment Tenure 6 Years 6 Years 7 Years
Margin Nil 20%-25% lower than the Bank’s norm 20%-25% lower than the Bank’s norm
Security Hypothecation + Guarantee of Spouse or a Family member wherever required. Hypothecation + 2 Guarantors + Collateral Security (25%) Hypothecation + 2 Guarantors + Collateral Security (30%)

Business Loans offered by Punjab & Sind Bank Under Udyogini Scheme

Interest Rate – Vyapar Loan As per rate applicable to MSME
Nature of loan Term Loan or Working Capital
Loan Amount Loan/limit shall vary from case-to-case basis and depend upon the purpose of loan
Processing Fee Nil
Margin Nil up to Rs. 25,000
Security/Collateral* Nil, up to Rs. 25,000 Above Rs. 25,000: Pledge of/Hypo. of assets created out of bank loanGuarantee of spouse or third partyCollateral security in the form of land/building property at leastdoubles the value of loan (including the value of assets in case of term loan)

Benefits of the Udyogini Scheme for Women Entrepreneurs

  • Encouraging women who want to start earning money to apply for loans from banks and other lenders
  • Offering interest-free loans to qualified women beneficiaries without any discrimination or bias
  • Women who belong to special categories such as SC/ST should have easier access to financial aid.
  • Prevent female borrowers from private lenders or other financial institutions from taking out high-interest loans.
  • Assure the female beneficiaries of EDP Training receive skill enhancements.

Udyogini Scheme for Women Entrepreneurs Application Process

  • Candidates for this program, or Yojana, can proceed with the required bank requirements by visiting the nearest bank with all the required paperwork and completing an application.
  • Candidates also have the option of applying for loans online by visiting the official websites of the banks that provide loans through the Udyogini program.

FAQS

What is the Udyogini Scheme for Women?
For the welfare and advancement of women entrepreneurs in India, the government launched the Udyogini Scheme for Women Entrepreneurs 2024. The Udyogini scheme has been implemented by the Women Development Corporation of the Government of India.

What are the benefits of this scheme?
This program provides financial assistance to women to encourage and motivate them to start and run their businesses among the underprivileged.

What are the minimum eligibility criteria for this scheme?
Only female entrepreneurs are eligible for business loans.