Udyogini Yojana: In today’s changing times, women no longer want to be confined only to the four walls of the house. They have skill, passion and also the desire to stand on their own feet and become the support of the family. But, there is also a bitter truth that in middle class and low income group families, financial constraints often come in the way of these dreams. Many times a great business idea dies simply because there is no initial capital to start it.
If you too are going through such a dilemma, then this news has brought a sigh of relief for you. With the aim of empowering women economically, the government is running ‘Udyogini Yojana’. This scheme is no less than a boon for those women who want to start their own business but are afraid of the heavy bank conditions.
Get money without mortgaging anything
Generally, whenever it comes to loan, the first thought that comes to mind is ‘guarantee’ or ‘security’. Banks often demand mortgage of house papers or jewelery in exchange for giving loan, which is not possible for a common woman. The biggest feature of the Udyogini scheme is that it is ‘collateral-free’.
This simply means that you do not need to mortgage any of your property to take a loan. Under this scheme, the government provides loans ranging from Rs 1 lakh to Rs 3 lakh to women. This amount depends on what your business plan is and how the bank looks at it. Although this scheme was started by the Karnataka government, seeing its success, now many state governments and women across the country are taking advantage of it with the help of the Centre.
Who can avail the benefits?
The aim of the government is to reach those women who need it the most through this scheme. Therefore, the eligibility rules have been kept quite practical.
- Age Limit: The age of the woman applying should be between 18 years to 55 years. This is the age when women can most actively contribute to the workforce.
- Income limit: To avail the benefits of this scheme, the annual income of the applicant’s family should not exceed Rs 1.5 lakh. This rule is so that the economically weaker section can get priority.
- Special exemption: Here the government has shown sensitivity. If the woman applying is widow or disabled, then no income limit will be applicable for her. They will be considered directly eligible for this scheme.
- Credit History: The most important thing is that the woman should not have defaulted (not repaying the loan) by taking a loan from any bank before. Banks give importance to your clean financial image.
From beauty parlor to dairy, every dream takes flight
Often this question comes in the mind of women that for what purposes they can use this money. The scope of the Udyogini scheme is quite wide. With the help of this loan, you can start any respectable small scale business.
This includes businesses like opening a beauty parlor, operating a boutique from home, setting up a sewing center, grocery store, dairy work or bakery. The basic mantra is that the business should be such that it generates income and makes the woman self-reliant. The loan amount can be used to start a new business as well as expand the old business.
Keep these documents ready before application
To avail the benefits of any government scheme, it is very important for the documents to be correct. If you are planning to apply under the Udyogini scheme, then you will have to keep some basic documents ready in advance.
- Identity Card: Aadhar Card and Voter ID.
- Photograph: Recent passport size photograph.
- Income Certificate: To prove that the family income is within the limit.
- Project Report: This is the most important document. In this you will have to give in writing what business you will do, how much it will cost and how you will earn from it.
- Others: Caste certificate (if applicable) and if you have any experience or training certificate for that work, then please include it. This increases the chances of getting a loan.
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