Implemented by the Women Development Corporation, Udyogini is a scheme to provide subsidised loans to aspiring women entrepreneurs from rural and underdeveloped areas. Various financial institutions provide loans under the scheme.
By offering necessary financial support, the scheme aims to promote entrepreneurship, financial empowerment and self-reliance among women in these areas. The Udyogini scheme also aims to build micro-enterprises that support the overall growth of the country.
The scheme extends interest-free loans to women from all sections of the society, who are looking to fund their small business.
High-value loan amount
Applicants can avail a loan of up to Rs.3 lakh under this scheme, provided they meet the basic eligibility criteria.
Loans available for 88 small-scale industries
The Udyogini loan can be availed to start businesses categorised under 88 small-scale industries. Some of them are fisheries, bakeries, groceries, tailoring shops, libraries, incense stick manufacturing, trades related to poultry and dairy, etc. Interest-free loans under this scheme are also available for women starting a business in the agriculture sector.
Training for skill development
This scheme also aims to impart functional skills to women regarding business planning, pricing, costing, feasibility, and more, alongside financial support.
Up to 30% loan subsidy
The Government proposes up to 30% subsidy on loans extended under this scheme to make repayment affordable for women.
Transparent evaluation of the beneficiary
The evaluation process of Udyogini Yojana application form ensures a transparent assessment for beneficiary selection.
Aspiring women entrepreneurs can fill the Udyogini loan application form to apply for funding, once they have met the below eligibility criteria:
The upper limit for income is not applicable for women falling under special categories like disabled, widowed or destitute.
Additional Read: Mudra Loan for Women
Submit the following documents to complete your Udyogini application:
Alternatively, women entrepreneurs can also avail a Bajaj Finserv Business Loan for Women at competitive interest rates. Such loans are collateral free and provide up to Rs.45 lakh against minimum eligibility and documentation.
MSME stands for Micro, Small and Medium Enterprise. It was introduced by the Government of India in agreement with the Micro, Small and Medium Enterprises Development (MSMED) Act of 2006. As per this act, MSMEs are the enterprises involved in the production, processing or preservation of goods and commodities. Vital for economic growth, this sector contributes around one-third of the country’s GDP and generates employment for around 110 million of the population.
It also plays an important role in the socio-economic development of the country as many of these enterprises operate in rural India. According to the Government's annual report of 2018-2019, more than 6 lakh MSMEs operate in the country.
Initially, MSMEs were classified based on two factors - investment in plant/machinery and an annual turnover of the enterprises. However, the Ministry of Micro, Small and Medium Enterprises has recently revised the classification by combining these two factors into a single criterion.
The MUDRA loan is provided under the Pradhan Mantri MUDRA Yojana (PMMY) to non-farming and non-corporate micro and small enterprises. These enterprises can avail loans up to Rs.10 lakh under the MUDRA (Micro Units Development & Refinance Agency Ltd.) scheme.
We have discontinued this product (MUDRA Loan) at this time. Please reach out to us on +91-8698010101 to know more about the current financial services provided by us.
|Loan amount under Shishu||Up to Rs.50,000|
|Loan amount under Tarun||Rs.50,001 to Rs.500,000|
|Loan amount under Kishore||Rs.500,001 to Rs.10,00,000|
|Processing fees||0.5% for Tarun Loan, nil for others|
|Eligibility criteria||New and Existing Units|
|Repayment period||3-5 Years|
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