Udyogini Scheme Update: Women Receive ₹3 Lakh Interest-Free Loan & 30% Subsidy for Business – Know How to Apply

The Udyogini Scheme was launched by the Central Government in 1997-1998, initially for the state of Karnataka, but later expanded across the country. This scheme offers women from economically weaker sections a loan of up to Rs 3 lakh at zero interest to help them start their businesses. Additionally, a subsidy of 30%-50% is provided on the loan amount.

The main objective of the Udyogini Scheme is to connect women from economically disadvantaged groups with industry. Eligible women can avail of loans ranging from Rs 1 lakh to Rs 3 lakh. The government checks whether the applicant has defaulted on any previous loans. While the loan comes with zero interest, interest may be charged in certain circumstances. Overall, the Udyogini Scheme aims to empower women, making them self-reliant and financially independent through business and self-employment.

Throughout this article, we will provide you with all the necessary information. If you want to take advantage of the Udyogini Scheme, we will guide you on how to apply, the required documents, the official website, the benefits of the scheme, eligibility criteria, and more.

Benefits of Udyogini Scheme 2024

1. The Udyogini Scheme is managed by the Women Development Corporation under the Government of India.
2. It offers loans ranging from Rs 1 lakh to Rs 3 lakh to eligible women, without requiring any collateral.
3. SC/ST women will receive a subsidy of up to 50% on the loan, while women from other categories will receive up to 30%.
4. With a loan of up to Rs 3 lakh, women can start their businesses such as sewing, beauty parlours, canteens, catering, etc.
5. Additionally, loan assistance is available for around 88 types of businesses.
6. Selected beneficiaries may also receive training under the EDP.
7. This scheme empowers financially deprived women entrepreneurs to start their enterprises.

Eligibility Criteria for Udyogini Scheme 2024

• The applicant must be a woman.
• The annual income of the applicant’s family should not exceed Rs 1.5 lakh (no upper-income limit for widows, destitute, or disabled women).
• The woman should not have any loan defaults.
• The woman’s age should be between 18 to 55 years.

Required Documents for Udyogini Scheme 2024

• Aadhaar Card
• Voter ID Card or BPL Ration Card
• Residence Certificate
• Income Certificate
• Caste Certificate (if applicable)
• Certificate of training or experience related to the business
• Detailed Project Report (DPR) for the business
• Quotations for machinery, equipment, and capital expenditure
• Bank Account Details
• Mobile Number
• Passport Size Photo

How to Apply Online for Udyogini Scheme 2024?

1. Choose one of the banks offering loans under the Udyogini Yojana.
2. Visit the official website of the chosen bank.
3. Look for the Udyogini Yojana option in the menu and click on the link to complete the application form.
4. Fill out the form carefully and submit it.
5. The CDPO will verify your application and, after a spot verification, send it to the selection committee.
6. If everything is in order, your loan will be issued.

Which Banks Offer the Udyogini Scheme?

Several commercial, private, and district cooperative banks, along with regional rural banks (RRBs) and non-banking financial institutions, offer loans under the Udyogini scheme. The main banks include:

• Bajaj Finserv
• Saraswat Bank
• Punjab and Sind Bank
• Karnataka State Women’s Development Corporation (KSWDC)