Udyogini is a program sponsored by the Women Development Corporation which provides loans to women from rural and underdeveloped areas who aspire to become entrepreneurs. The program is designed to promote women’s entrepreneurship, financial empowerment, and self-reliance by providing necessary financial support. It also helps to build micro-enterprises that can support the growth of the country in the long run.
Every woman deserves the opportunity to succeed in life. Banks offer interest-free loans to women entrepreneurs who are engaged in farming, as well as to those in other industries. The Udyogini Scheme is a great reminder that we need to pay attention to every part of society and support female business owners.
Features of Udyogini Yojana scheme
The scheme provides low-interest loans to widows, housewives, and those who belong to disadvantaged sections of society in order to help them fund their small businesses.
High-value loan amount – Those who are eligible can get up to Rs. 3 lakh of a loan through this scheme.
Loans available for small-scale industries – The Udyogini loan is ideal if you’re looking to start a business in one of the 88 small scale industries under the scheme. Some examples are fisheries, bakeries, groceries, tailoring shops and libraries. Interest-free loans are also available for women starting a business in the agriculture sector.
Training for skill development – This scheme, in addition to the vocational training and financial support, also aims to impart awareness of how to do business planning, pricing, costing and more.
Up to 30% loan subsidy – The Government is proposing up to a 30% subsidy on loans extended under this scheme so that women can pay back these loans without having too much of a financial burden.
An evaluation of the beneficiary – The process of evaluating applications for the Udyogini Yojana provides a transparent assessment of beneficiary selection. This high-quality process minimizes errors while maximizing effectiveness.
Key objectives of the scheme
- Women should be encouraged to take loans from banks and other financial institutions to take up income generation activities.
- A women from SC and ST or a woman from a special category, by giving them lower interest rates on financial services, access to banks and banking.
- In order to provide loans without interest to eligible women beneficiaries, we make equal opportunities our priority.
- The idea is to train the women disadavantaged by this program we offer them skills so they get the matching occupation.
- Lending Club is a place where women can get loans without the hassle and high interest rates of other loan providers.
Conclusion
The Udyogini Yojana scheme is a great way for women to get started in business. It offers them the opportunity to get training and financial assistance so that they can start and grow their own businesses. The scheme has helped many women achieve their dreams of becoming successful entrepreneurs, and we hope it will continue to do so in the future.