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Women across the country are making their mark in businesses ranging from small-scale ventures to larger enterprises. The Udyogini Scheme is an initiative designed to empower women financially. Under this scheme, eligible women can obtain a loan of up to ₹3 lakh to start a small business or expand an existing one. A key feature of this loan is that it requires no collateral or guarantor.

This scheme is particularly beneficial for women wishing to start ventures such as tailoring and embroidery, food product manufacturing, handicrafts, small retail shops, or other small-scale businesses. In addition to the loan, eligible women may also receive the benefit of a subsidy. However, availing the scheme's benefits requires meeting specific criteria regarding age, family income, and credit history.

**Benefits of up to ₹3 lakh**
Under the Udyogini Scheme, eligible women can secure a loan of up to ₹3 lakh. A notable feature of this loan is that it does not require any collateral or a guarantor.

Eligible women from the general category can receive a subsidy of up to 30% on the loan, while the subsidy for women belonging to Scheduled Castes (SC) and Scheduled Tribes (ST) can go up to 50%. Special provisions regarding interest rates exist for widows, women with disabilities, and destitute women; in some cases, they may avail of loans at very low interest rates or even interest-free.

The scheme covers various sectors associated with small businesses, including food processing, tailoring and embroidery, handicrafts, retail trade, and other activities. Financial assistance is available for 88 different types of small-scale industries under the scheme.

**Who can avail the benefits of the scheme?**
Only female applicants can avail the benefits of the Udyogini Scheme. Applicants must be between 18 and 55 years of age, and their annual family income must not exceed ₹1.50 lakh.

However, relaxations or exemptions regarding this income limit may apply to widows, destitute women, and women with disabilities. Additionally, the applicant must have a clean credit history. In other words, if a woman has previously taken a loan from a bank or financial institution and defaulted on it, she will not be considered eligible for the scheme.
Therefore, before applying, one must verify eligibility criteria and the specific rules of the concerned bank.

What documents are required?
Women applying for this scheme must provide certain essential documents. These include an Aadhaar card or Voter ID, an income certificate, and passport-sized photographs. Additionally, a simple project report or business plan for the intended business venture may also be required.

To apply for the scheme, a woman can contact a nearby public sector bank, private bank, regional rural bank, or cooperative bank. After verifying the application and documents, the bank proceeds with the loan processing.

How to apply?
First, visit the nearest bank with the required documents and fill out the application form.
The form can be obtained from the bank, the relevant office, or the scheme's official website.
Submit the filled-out form and documents to the bank or the concerned branch.
The bank will process the loan application after verifying the documents and the business plan.
Once the loan is approved, the funds may be transferred to your bank account or directly to the account of the supplier providing the machinery or goods.

Information regarding the Udyogini Scheme can be accessed via the UMANG app/portal and the myScheme portal. These platforms provide details about the scheme and the application process. In short, if you wish to start a small business but lack the necessary funds, the Udyogini Scheme can be of great help.

Disclaimer: This content has been sourced and edited from News18 Hindi. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.