The Udyogini Scheme for Women Entrepreneurship and The Benefits
The Udyogini scheme is a scheme to provide cheap loans and business training to women entrepreneurs. Under this scheme, when women entrepreneurs who are needed business loans and industry training are given by many government and private banks.
Prime Minister Narendra Modi has always insisted that there should be more business in the country and women should become financially independent. Udyogini scheme has been started by the Modi government in 2020.
Ever since Narendra Modi became Prime Minister, small, micro & medium entrepreneurs are getting every level of support from the government.
Mudra loan scheme for MSME traders has been launched by the Modi government. Under this scheme, business loans of up to 10 lakh are given to the businessmen in three categories without any mortgage. Similarly, the Udyogini scheme has been started by the Central Government to give loans to women entrepreneurs.
For the information, we should let you know that the business loan of up to 7.5 lakhs is provided by ZipLoan, an RBI registered company to MSME businessmen, in just 3 days* without mortgaging anything. Let us understand what is the Udyogini scheme? What is the eligibility for the Udyogini scheme? What is the benefit of the Udyogini scheme? And who gets the benefit of the Udyogini scheme?
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What is The Udyogini Scheme?
This scheme is not an indirect government scheme. Rather it is a scheme started by banks as per the instructions of the Central Government. The scheme is being run independently by the public, private banks as well as non-banking financial companies (NBFCs).
The basic motive behind launching the Udyogini scheme is to empower women. Under this scheme, the women who get their own business get a loan. Please also inform you that in this scheme, those women also get a loan, who already have a business.
Under the Udyogini scheme, women get a maximum loan of up to Rs 3 lakh at the lowest rate of interest. The special feature of this scheme is that SC, ST (SC-ST), and physically challenged women are given interest-free loans.
Where Can I Get an Udyogini Loan?
At present, there are many government and private banks, from which the Udyogini loan is available very easily. Udyogini loan lending banks are Punjab and Sind Bank and Saraswat Bank.
Apart from this, the Udyogini loan can be obtained from all commercial banks, from all cooperative banks, and all Regional Rural Banks (RRB) under the Udyogini scheme. Let us tell you for information that women running their business through Udyogini loans are also given subsidy from these financial institutions.
Every woman who fulfils its conditions is entitled to get an Udyogini loan. 88 businesses have been included in the Udyogini scheme The terms of the Udyogini scheme are explained below:
Bangle Making Business
Beauty Parlor Business
The business of making bedsheets and towels
The business of making book bindings and notebooks
Coffee and tea powder making business
Spice Making Business
Corrugated Box Making Industry
Cotton Thread Manufacturing
Nursery Business of Plants
Cut Piece Cloth Business
Dairy and Poultry related businesses
Diagnostic Lab Business
Dry Cleaning Business
Dry Fish Trade Business
Edible Oil Store
Energy Food Business
Fair Price Ration Shop
Fax Paper Manufacturing Industry
Fish Stall Business
Agarbatti Manufacturing Industry
Audio and Video Cassette Store
Making a tender leaf business
Flour Mill Shop
Footwear Manufacturing Industry
Gift Article Shop
Handicraft Manufacturing Industry
Household Article Retail Shop
Ice Cream Business
Ink Manufacturing Industries
Jam, jelly, and pickle making business
Typing and Photocopying Shop
Jute Carpet Business
Leaf Cup Production Manufacturing Industry
Community Library Business
Checks Knitting Business
Matchbox Manufacturing Industry
Milk Booth Shop
Mutton Stall Business
Newspaper, weekly and monthly magazine vending shop
Nylon Button Manufacturing Industry
Old Paper Mart Business
STD - PCO Booth
Sewing - Embroidery - Knitting Business
Raw Coconut Business
Typing Institute Business
Vegetable and Fruit Vending (Vegetable Shop)
Sindoor Manufacturing Industries
The Business of Weight Gridding
Woollen Textile Manufacturing Industry
Betel & Cigarette Shop
Pan Leaf or Chewing Shop
Phenyl and naphthalene ball manufacturing industry
Photo Studio Business
Plastic Goods Business
Pottery Making Business
Bottle Cap Manufacturing Industry
Can and Bamboo Manufacturing Industries
Canteen and Catering Business
Chalk Crayon Manufacturing Industries
Slippers Manufacturing Industry
Cleaning Powder Manufacturing Industry
Printing and Dyeing
Quilt and Bed Manufacturing Industries
Radio and TV Servicing Station Business
Ragi Powder Business
Readymade Garments Business
Real Estate Business
Ribbon Manufacturing Industry
Embroidery Work on Saree
Security Service Work
Shikakai Powder Manufacturing Industry
Silk Thread Manufacturing Industry
Silk Weaving Business
Soap oil, soap powder, and detergent cake manufacturing industries Woodworking business
Terms And Eligibility for the Loan Under the Udyogini Scheme
It is very easy to get a loan under this scheme. The conditions for obtaining a loan under the Udyogini scheme are very low. The conditions are made in such a way that more and more women can get a business loan. Following are the terms and eligibility of the Udyogini Scheme:
Only those women whose business is registered under the Udyogini scheme can get a loan. The list of registered businesses is given above. Can be seen from there.
A maximum loan of up to Rs 3 lakh can be availed under this scheme.
The same women who are above 18 years of age and below 55 years will be eligible to apply for the Udyogini Yojana loan.
The family income of a woman applying to avail this scheme should not exceed one lakh fifty thousand.
There is no annual family income limit for widowed or disabled women. That is, if the family comprise widows or disabled women, she can apply.
To Avail the Udyogini Scheme the Following Documents Will be Required
Complete filled Udyogini loan form (Udyogini form can be taken from the bank or downloaded from the bank's website)
2 Passport Size Photo
Aadhaar Card Photocopy
Birth certificate (10th mark sheet, a certified letter from local tehsildar or letter written on the letter pad of Gram Pradhan / Local Zilla Parishad / Local MLA / Local MP)
Photocopy of BPL Card (Below Poverty Line)
Caste Certificate (being in the ST-SC category)
How to Apply for Udyogini Loan Scheme?
It is very easy to apply for a loan under this scheme.
First of all, take the Udyogini loan form from the bank, if you want, you can also download the Udyogini loan form from the concerned bank's website. After taking the form, fill the form thoroughly.
In order to fill the form, a photocopy of all the documents mentioned above has to be submitted and the business loan form is submitted to the bank concerned. After submission of the form, you will have to go to the bank and inquire regularly till when your loan is being passed.
Some Important Things Related to the Udyogini Scheme
Under this scheme, no loan is to be mortgaged for taking a loan.
Udyogini loan interest rate: The interest rate of the loan available under this scheme is very low. Generally, the interest rate of the Udyogini loan varies from 8% to 12%. But how much will be the interest? This depends entirely on the discretion of the bank.
Interest is waived on a business loan for widow / disabled women.
The processing fee of the Udyogini loan is zero. Not a single penny has to be paid in the form of loan processing.
It is necessary to mention here that GST and service tax are also levied on the Udyogini loan.
Under the Udyogini loan scheme, the Central Government wants that, within the year 2020, about one lakh women should be benefited with Udyogini loan and make them financially self-reliant.
Solving Real problems
I have been running my business for over twelve years but have not been able to undertake expansion activities. I applied to Ziploan and they cleared my loan application in a very short span of time.
I approached Ziploan for an equipment finance loan. Their eligibility criterion was easy to fulfill because it required only 2 years ITR and 10 lacs of annual banking credit.
I always thought that loans and credit facilities were only available to large businesses with significant turnover. I never thought I would be eligible to qualify for a business loan too. Ziploan is boon for small enterprises like me.
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