Udyogini Scheme for women empowerment was introduced by the Karnataka government in which they provide subsidies to the new and growing women entrepreneurs. Women are growing in almost every field and Business is new but with the help of loans and skill training provided under this scheme, women can flourish their businesses within or outside the state. The Udyogini loan working capital loan helps working women by providing loans at low interest and helps them become self–employed. This scheme is highly accessible for the service and trade sector. In this article, we will be sharing all the necessary details related to the Udyogini Scheme Apply Online – Benefits for Women Entrepreneurs, eligibility, purpose, etc.
What is the purpose of the Udyogini Scheme?
The ultimate motive behind launching the Udyogini Scheme is to empower women entrepreneurs and prove their ability through skill training and subsidized loans. These small loans are a beneficial way for all those women who want to enhance their business skills and flourish the business at a large level. The main purpose behind launching the Udyogini Scheme is:
- To assist women In gaining self-reliance by making them self–employed. Most probably in the industrial and trade sector.
- By providing loans from renowned banks of financial institutions and providing loans and subsidies under the Women Development Corporation.
- To protect women from taking loans at high interest rates from the pawnbroker.
- To make women self–reliant so that they can gain experience in the business field so that they can become financially independent and resilient and deal with any kind of financial issue.
- To promote women’s empowerment and resolution.
This scheme is a popular and beneficial scheme that bridges the gap between employed women and pecuniary assistance. So that they can start small-scale businesses with their strength without any external pressure from money lenders regarding high interest rates. Under this Udyogini Scheme, women can get access to numerous loans like MSME loans which help in supporting their start-ups or ventures to enhance their financial stability.
Features and Benefits of the Udyogini Loan Scheme
The Udyogini Loan Scheme is an empowering scheme that initiates the status of women in the entrepreneur world and focuses on empowering them to stand out in the business world by equally participating in economic activities. Some of the features and benefits of the Udyogini Loan Scheme are:
- High-value loan amount: This scheme offers loans up to INR 3 lakhs to women entrepreneurs through which they can establish and grow their businesses at a huge level. Through this scheme, women can get financially strong to overcome barriers that come while doing business and funding. It also initiates the empowerment of women and supports financial independence. Moreover, the scheme also ensures that if the applicant is eligible and has followed the whole eligibility criteria then they do not have to fulfill any additional capital requirements like Collateral.
- Subsidized Loans for Affordable Repayments: The loan provides a 30% subsidy on the loans to reduce the financial strain that comes on the owner due to loans. This way women can easily pay off the loans and ensure that people can enjoy their business without caring about the excessive debt. If the applicant belongs to the Economically weaker section then enjoy the Udyogini Loan Scheme to a greater extent due to its benefits and features as it ensures business development.
- Transparent Beneficiary Evolution: The evaluation approach of the Udyogini Loan Scheme ensures a clear and fair process while accepting the beneficiary for the loan. This transparency is the reason behind the growing trust among women and motivates them to be a part of this scheme. It doesn’t support any biases towards women while providing effective financial assistance.
- Skill Development training: If you are somebody who lacks business skills then this scheme provides Skill development training which includes, pricing, business planning, feasibility, and costing studies. It ensures that women are equipped with all the necessary skills that are important to run a business or small–scale operation. The Udyogini Scheme has combined funding with financial expertise making it easy for women to flourish their businesses to a greater extent.
Also Read: PICME Login | Mahila Samman Scheme | Mukhyamantri Prakhand Parivahan Yojana
Udyogini Scheme Eligibility Criteria for Loans
Interested applicants who want to enjoy the perks of the scheme need to follow the eligibility criteria provided by the Karnataka Government. Here are the eligibility criteria for loans.
- Age requirement: Applicants applying for the scheme need to fall within the age range of 18 – 55 years.
- Applicant profile: Only women entrepreneurs are eligible to apply for this scheme.
- Business Type: The businesses qualifying for the loans include the manufacturers, Small Scale Industries, Small Scale Industries sector, self-employed professionals, manufacturers, traders, etc.
- Special category: The scheme also offers a special category in which women who are widows, or disabled fall. These women can apply in this category and access interest-free loans.
- Credit history: The women entrepreneurs applying for the loan need to ensure that there would be no default in previous loan history.
The above-mentioned eligibility criteria define the unwavering support of the Government with the empowerment of Women Entrepreneurs belonging from diverse backgrounds but they are connected with the financial assistance.
Documents Required for Udyogini Scheme
To apply for the Udyogini Scheme Launched by the Karnataka Government, the applicants are required to submit the documents.
- Income certificate
- Aadhar card or BPL Card
- Application form
- Passport size photo
- Caste certificate for ST/SC Category
- Ration card photocopy
- Detailed Project report along with the mentioned introduced business activity
Once all the documents are collected and the application form is filled, you have to submit it to the nearest banking institution that offers the Udyogini Scheme. Before processing the loan application, the bank will verify all the documents. Once approved, all the scheme amounts will be transferred to the applicant’s account.
Also Read: MPTAAS Login | Silai Machine Yojana | Soil Health Card Scheme
List of Enterprises Participating in the Udyogini Scheme
The goal of the Udyogini Scheme is to empower women while offering loans and subsidies with minimal interest rates ensuring that every new women entrepreneur can get success and skills. The scheme consists of various businesses that can get access to the funding offered by this scheme. Here is the list of enterprises participating in the Udyogini scheme.
| Agarbatti Manufacturing | Bakeries | Audio–video parlor |
|---|---|---|
| Bangles | Banana leaf manufacturing | Beauty Parlour |
| Bed sheet and towel manufacturing | Book and notebook binding | Bamboo article manufacturing |
| Bottle cap manufacturing | Canteen and catering | Clinic |
| Creche | Condiments | Chalk crayon manufacturing |
| Coconut shop | Chappal manufacturing | Coffee and tea powder |
| Cleaning powder | Cotton thread manufacturing | Corrugated box manufacturing |
| Dairy and poultry trade | Cut–piece cloth trade | Diagnostic lab |
| Dry fish trade | Dry cleaning | Eat outs |
| Flower shop | Fax paper manufacturing | Fairtrade shop |
| Flour mills | Gift articles | Footwear manufacturing |
| Handicraft manufacturing | Ink manufacturing | Jute carpet manufacturing |
| Leaf cup manufacturing | Mutton stalls | Papad manufacturing |
| Radio and TV services | Printing and dyeing | Readymade garments |
| Silk weaving | Stationery shop | Travel agency |
| Wet grinding | Woolen garment manufacturing | Typing institute |
How to Apply for the Udyogini Scheme?
The application process for the Udyogini Scheme is quick and easy
- Visit the official website of the bank that is offering the Udyogini Scheme.
- Go to the navigation bar and click on the link to the application form.
- Fill out the application form with all the necessary details and attach the documents required.
- Once CPDO looks after the application then selection will be done after verification of documents.
- After completing the verification process, send a request to the bank for subsidy release.
- After the approval of the loan, the bank will release the loan amount.
Read Also: Indira Gandhi Single Girl Child Scholarship | Pradhan Mantri Mudra Yojana
Udyogini Scheme Information Helpline Number
While applying for Udyogini scheme, if anyone finds any issue regarding delays or no money transfer then applicants can avail information from the helpline number at +91-9319620533.
FAQs for Udyogini Scheme
1) Who is eligible for the Udyogini Scheme?
Applicants who are women entrepreneurs and have a family income of less than INR 1,50,000 can apply for this scheme.
2) Which banks offer the Udyogini Scheme?
The Udyogini Scheme is offered by the Karnataka State Women’s Development Corporation (KSWDC), Saraswat Bank, Punjab, and Sind Bank.
3) Which loan is 50% subsidy?
The Udyogini Scheme is a 50% subsidy loan in which the applicant will be provided with a maximum subsidy of INR 3,00,000.
4) What is the Udyogini Scheme?
The Udyogini Scheme is launched by the Government of India with a motive to improve the status of Women in the Business world.
5) What is the Udyogini Scheme interest rate provided to the candidates?
The Udyogini Scheme offers 10% to 125% interest rate.
