Overview of Udyogini Scheme
The Udyogini Scheme was initiated by the central government specifically for Karnataka in 1997-1998 and has since been expanded nationwide. This scheme aims to empower economically disadvantaged women by providing them with interest-free loans of up to ₹3 lakh to start their own businesses. Additionally, beneficiaries can receive a subsidy ranging from 30% to 50% on these loans.
Objectives of the Udyogini Scheme
The primary goal is to connect economically weaker women with industries, enabling them to become self-reliant and financially independent through entrepreneurship. Women can apply for loans ranging from ₹1 lakh to ₹3 lakh, and the government evaluates any previous defaults on loans before approval. While these loans are generally interest-free, interest may be charged in certain situations.
Key Information About Udyogini Scheme 2024
- Scheme Name: Udyogini Scheme for Women Entrepreneurs
- Objective: To make economically disadvantaged women self-reliant through entrepreneurship.
- Loan Amount: Up to ₹3 lakh
- Start Year: 1997-1998
- Implementing Authority: Ministry of Women Development
- Current Status: Active
- Eligible Beneficiaries: All women from economically weaker sections
- Application Process: Offline
- Official Website: myscheme.gov.in
Benefits of Udyogini Scheme 2024
- Managed by the Ministry of Women Development.
- Loans available without collateral, ranging from ₹1 lakh to ₹3 lakh.
- Special subsidies: 50% for SC/ST women, 30% for others.
- Supports starting various businesses, including sewing, beauty parlors, catering, etc.
- Provides loan assistance for approximately 88 different types of businesses.
- Selected beneficiaries may receive training under the Entrepreneurship Development Program (EDP).
Eligibility Criteria for Udyogini Scheme 2024
- Applicant must be a woman.
- Family income should not exceed ₹1.5 lakh annually (no upper limit for widows, abandoned, or disabled women).
- No previous loan defaults.
- Age between 18 to 55 years.
Required Documents for Udyogini Scheme 2024
- Aadhaar card
- Voter ID or BPL ration card
- Residence certificate
- Income certificate
- Caste certificate (if applicable)
- Training or experience certificate related to the intended business
- Detailed Project Report (DPR) for the industry seeking financial assistance
- Quotations for machinery, equipment, and capital expenditure
- Bank account details
- Mobile number
- Passport-sized photo
How to Apply for Udyogini Scheme 2024
Offline Application Process:
- Visit your nearest government bank.
- Obtain the Udyogini Scheme loan application form.
- Fill out the form carefully and attach all required documents.
- Submit the completed application at the bank.
- Your application will be reviewed, and if approved, the loan will be sanctioned within 8-10 days.
Online Application Process:
- Select a bank offering loans under the Udyogini Scheme.
- Visit the bank’s official website.
- Locate the Udyogini Scheme option in the menu and click on the application link.
- Fill out the form and submit it.
- The application will undergo verification and, if all is in order, the loan will be issued.
Participating Banks in Udyogini Scheme
Loans under the Udyogini Scheme are available through various commercial banks, private banks, district cooperative banks, regional rural banks (RRBs), and non-banking financial institutions, including:
- Bajaj Finserv
- Saraswat Bank
- Punjab and Sind Bank
- Karnataka State Women’s Development Corporation (KSWDC)
Business Opportunities Under Udyogini Scheme
Women can apply for loans for various businesses, such as:
- Book and notebook binding
- Food catering and canteens
- Beauty parlors
- Manufacturing bamboo products
- Bakeries
- And many more (approximately 88 business types).
Frequently Asked Questions (FAQs)
- What is the Udyogini Scheme?
A program providing interest-free loans of up to ₹3 lakh for women entrepreneurs, along with a 30% subsidy. - Where was the Udyogini Scheme launched?
Originally launched in Karnataka, it is now implemented across the country. - Who is eligible for the Udyogini Scheme?
Women aged 18 to 55 from economically weaker backgrounds. - When was the Udyogini Scheme started?
Initiated in 1997-1998 in Karnataka. - Which banks offer loans under the Udyogini Scheme?
Loans are available from various commercial, private, and regional banks.