Udyogini Loan Scheme Do you know about this?

The Udyogini Loan scheme is a scheme to provide cheap and interest-free loans and business training to women traders. Under this scheme, women businessmen are given business loans and industry training when needed by many government and private banks.

Prime Minister Narendra Modi has always stressed that there should be more business in the country, and women should become financially independent. In this step, the Udyogini scheme was started by the Modi government under this government scheme 2020 – 2021.

Ever since Narendra Modi became Prime Minister, business people, and micro. Working to provide every level of support to Small and Medium Entrepreneurs (MSMEs).

The Modi government has launched mudra loan scheme for sugar traders. Under the scheme, business loans of up to 10 lakh are granted to businessmen in three categories without any mortgage. Similarly, the Udyogini scheme was started by the Central Government to give loans to women traders.

For the information, let us know that the business loan of up to 5 lakhs is provided by the country’s NBFC to MSME businessmen in just 3 days without pledging anything. Let us understand what the Udyogini scheme is. What is the eligibility for the Udyogini scheme? What is the benefit of the Udyogini scheme? And who gets the benefits of this scheme?

What is the Udyogini scheme?

This scheme is not a central government scheme. However, as per the instructions of the Central Government, this scheme was started by banks. The scheme is being run independently by public, and private banks as well as non-banking financial companies (NBFCs).

However, the main objective behind launching the Udyogini scheme is to empower women. Therefore, under this scheme, women get their business loans. Please also inform you that those women also get loans who already have a business in this scheme.

However, under the scheme, women get a maximum loan of up to Rs. 3 lakhs. Also, this scheme’s special feature is that interest-free loans are given to Scheduled Castes, Scheduled Tribes (SC-ST) and physically challenged women.

Where can I get an industrial loan?

Presently, there are many public and private Banks, from where Udyogini loans are available very easily. Therefore, Punjab and Sindh Bank and Saraswat Bank are mainly Udyogini loaning banks.

Besides, the Udyogini scheme can be obtained from all cooperative Banks, all commercial banks, and all regional rural banks (RRBS). For your information, let you know that women running their businesses through Udyogini loans are also subsidized by these financial institutions.

Who can get an industrial loan?

However, every woman who fulfils its conditions is entitled to get a Udyogini loan. Therefore, the same women are entitled to get a Udyogini loan and are doing, or want to do registered business as per the Udyogini scheme. However, there are 88 businesses have been included in the Udyogini scheme. Following is the list of 88 businesses included in the Udyogini scheme:

Bangle making business
Beauty parlour 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
Eat-Out 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
Bakery business
Making a tender leaf business
Flour mill shop
Flower business
Footwear manufacturing industry
Fuelwood business
Gift Article Shop
Handicraft Manufacturing Industry
Household Article Retail Shop
Ice cream business
Inc Manufacturing Industries
Jam, jelly, and pickle-making businesses
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
Stationery shop
STD – PCO Booth
Sweet Shop
Sewing – Embroidery – Knitting Business
Tea shop
Raw coconut business
Travel Agency
Tutorial business
On opening a typing institute
Vegetable and Fruit Vending (Vegetable Shop)
Sindoor Manufacturing Industries
The business of weight gridding

Other Industries Eligible for Loan

Woolen Textile Manufacturing Industry
Betel & also Cigarette Shop
Pan leaf or chewing shop
Papad making
Phenyl and also naphthalene ball manufacturing industry
Photo Studio Opening 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
Clinic Opening Business
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
The shops
Silk thread manufacturing industry
Silk weaving business
Silkworm farming
Soap oil, soap powder, and detergent cake manufacturing industries
Woodworking business

Eligibility of the Udyogini Scheme

It is very easy to get a loan under this scheme. Therefore, the conditions for taking a loan under the Udyogini scheme are very simple. Also, the conditions are made in such a way that more and more women can get industrial loans, and they can do their business.

However, those women whose business is registered under the Udyogini scheme can get loans under the Udyogini scheme. Therefore, the list of registered businesses is given above. Also, it can be seen from there.
A maximum loan of up to Rs 3 lakh can be availed under this scheme.
Therefore, 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 of this scheme also not exceed one lakh fifty thousand.

In addition to the above, there is no annual family income limit for widowed/disabled women. That is, whatever the family of widows or disabled women, she can apply.

These are the following documents which are required for the Udyogini loan:

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 ST-ST category)
Income certificate

How to apply for the Udyogini Loan Scheme?

It is very simple to apply for a loan under this scheme. Firstly, of all, get the Udyogini loan form from the bank if you want. You can also download the Udyogini loan form from the respective bank’s website. Thereafter, taking the form, fill out the form thoroughly. To fill out the form, also a photocopy of all the documents mentioned above will be submitted, and the industrial loan form will be submitted to the concerned bank. After submitting the form, you will have to go to the bank and regularly inquire about when your loan is being passed.

Some important things related to the scheme

Under this scheme, no property is to be pledged for taking a loan. Therefore, this means that the loan is availed without any mortgage.

Udyogini loan interest rate

However, the interest rate of loans available under this scheme is very low. Generally, the interest rate of the Udyogini loan varies from 8% to 12%. But how much will the interest be? However, this depends on the discretion of the bank.

Interest is waived on industrial loans for widow / disabled women.

However, the processing fee of the Udyogini loan is zero. That is, not a single money has to be paid in the form of loan processing.

It is necessary to mention here that GST Goods and Service Tax are also levied on the Udyogini loan.

The Central Government wants that under the Udyogini loan scheme, within the year 2020 – 2021, about one lakh women to take loans under this scheme and make them financially self-reliant.

Conclusion

Many of you are not aware of the Udyogini scheme. Therefore, I hope in this article you may clear your doubts related to this scheme.

However, the scheme encourages and motivates women entrepreneurship among the poor by providing financial assistance to women to do business. This scheme also helps older women living in rural and backward areas. Udyogini schemes help in improving the income of an individual and families and contribute to the overall development of the country.

FAQ – Frequently Asked Questions

Q1. What is the objective of the industrialist scheme?

Encourage the SSI sector by creating more employment opportunities and also development to promote women’s entrepreneurship.

Q2. How much loan can be obtained under the Udyogini scheme?

However, the maximum amount of loans to women entrepreneurs under the industrialist scheme is Rs. 3 lakh.

Q3. What is the age eligibility to apply for the industrialist scheme?

The minimum age limit for applying for a loan is 18 years and a maximum of 55 years.

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