Udyogini Yojana Scheme: Udyogini Yojana is a wonderful initiative by the Government of India aimed at helping women from less privileged backgrounds start their own businesses. By providing financial assistance, this yojana encourages women to become entrepreneurs, which in turn, helps increase their families’ incomes and contributes to the country’s growth. Let’s dive into what Udyogini Yojana offers, who can apply, and how you can apply for it.
Table of Contents
Overview of Udyogini Yojana Scheme 2024
- Who Started It: A joint effort by the Government and Women Entrepreneurs in India.
- Who Runs It: The Women Development Corporation of the Government of India.
- Financial Support: Women can get loans up to Rs. 3 lakh.
- For Whom: Mainly supports women in rural and underdeveloped areas.
- Special Cases: Interest-free loans for widowed or disabled women with no income limit.
Objectives of the Udyogini Yojana Scheme
The objectives of Udyogini Yojana are designed to empower women, especially those from less privileged backgrounds, by providing them with financial assistance and training to start and run their own businesses. Here are the main objectives of the yojana:
- Promote Women Entrepreneurship: Encourage and support women to become entrepreneurs, enabling them to contribute to the economy and become financially independent.
- Increase Household Income: By supporting women in starting their own businesses, the yojana aims to increase the income levels of individual households, which contributes to poverty reduction and economic development.
- Skill Development: Alongside financial assistance, the yojana provides women with skill development training. This ensures they have the capital and the skills to start their businesses successfully.
- Prevent High-Interest Borrowing: One of the key objectives is to prevent women from borrowing money at high-interest rates from informal sources. By providing interest-free or low-interest loans, the yojana makes it easier for women to access the capital they need without falling into debt traps.
- Inclusive Support: The yojana aims to be inclusive by supporting women across various sections of society, including those from SC/ST categories, widowed, and disabled women, by providing them special concessions and support.
- Support a Wide Range of Businesses: Encourage entrepreneurship in diverse fields by supporting a wide range of businesses that women can undertake, from traditional crafts to modern enterprises.
Through these objectives, Udyogini Yojana seeks to create a supportive ecosystem for women entrepreneurs, helping them overcome barriers and succeed in their entrepreneurial ventures.
Who Can Apply Udyogini Yojana Scheme?
| Name | Udyogini Scheme |
| Introduced 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 lakh |
| No income limit | For Widowed or disabled women |
| Collateral | Not required |
| Processing Fee | Nil |
To be eligible for Udyogini Yojana Scheme, you should be:
- A woman aged between 18 to 55 years.
- Having a family income of less than Rs. 1.5 lakh per annum.
- A woman business owner or planning to start a business.
Documents Needed of Udyogini Yojana
Make sure you have these documents ready:
- Passport-size photographs.
- Aadhaar Card.
- Birth Certificate.
- Proof of address and income.
- BPL and Ration Card (if applicable).
- Caste Certificate (if applicable).
- Bank passbook copy.
Supported Businesses of Udyogini Yojana
Udyogini Yojana supports a wide range of businesses, including but not limited to:
- Agarbatti Manufacturing
- Beauty Parlour
- Tailoring
- Bakeries
- Vegetable & Fruit Vending
- …and many more.
How to Apply Udyogini Yojana
Applying for the Udyogini Yojana involves a few steps that ensure you can avail of the benefits offered by this scheme. Here’s a straightforward guide on how to apply:
1. Check Eligibility
Before applying, ensure you meet the eligibility criteria:
- You are a woman aged between 18 to 55 years.
- Your family income is less than Rs. 1.5 lakh per annum.
- Special consideration is given to widowed, disabled women, and women belonging to SC/ST categories.
2. Gather Required Documents
Prepare all necessary documents, including:
- Passport-size photographs.
- Aadhaar Card for identity proof.
- Birth Certificate as age proof.
- Income proof to verify your family’s annual income.
- BPL (Below the Poverty Line) and Ration Card, if applicable.
- Caste Certificate, if applicable.
- Bank passbook details.
3. Find a Participating Bank or Institution
Several banks and financial institutions support Udyogini Yojana. Research or inquire about banks in your area that facilitate the Udyogini Yojana applications.
4. Fill Out the Application Form
- Visit the selected bank and ask for the Udyogini Yojana application form.
- Fill out the form carefully with all the required details.
- Attach all the necessary documents mentioned above with the application form.
5. Submit the Application
Submit the completed application form along with the attachments to the bank. Ensure you receive an acknowledgement of your application submission.
Alternative: Online Application (If Available)
Some banks might offer the option to apply online through their official website or a dedicated portal for the Udyogini Yojana. Check if this option is available:
- Visit the official website of the bank or institution offering the Yojana.
- Look for the Udyogini Yojana application link and follow the instructions to complete the form online.
- Upload digital copies of the required documents.
- Apply online and note the application ID or acknowledgement number for future reference.
After Applying
After submitting your application, the bank will process it and may conduct a verification process. Keep track of your application status and be prepared for any further information or action the bank may require.
By following these steps, you can successfully apply for the Udyogini Yojana and take a step towards becoming an empowered woman entrepreneur.
Conclusion
Udyogini Yojana is a powerful step towards empowering women by encouraging them to embark on their entrepreneurial journey. With financial support and skill development courses, it aims to improve individual and household incomes and contribute to the nation’s development. If you’re a woman with a business idea or are already running a small business, Udyogini Yojana could support you in taking your venture to the next level.
