Udyogini Yojana 2024 is a government backed initiative in Karnataka that aims to support women entrepreneurs. In this Udyogni loan scheme, the state govt. will provide financial assistance and training to women to enable them to start and expand their businesses. Udyogini scheme is specifically designed to empower women and promote their participation in economic activities.
For women belonging to special category and general category maximum unit cost is Rs. 3 lakhs. Subsidy for special category women and for general category women is 30% or maximum of Rs. 90,000, with EDP training to selected beneficiaries.
The objective of the scheme is to avoid women going to private money lenders or other financial institutions for loan with higher interest rate. Implemented by Karnataka State Women's Development Corporation, Udyogini scheme aims to provide subsidised loans to aspiring women entrepreneurs from rural and underdeveloped areas. Udyogini Yojana would promote women entrepreneurship, financial empowerment and self reliance by offering necessary financial support.
The Udyogini scheme also aims to build micro enterprises that support the overall growth of the country. Udyogini Yojana will promote and motivate women's entrepreneurship among the poor by providing financial support to women. This scheme majorly supports and helps illiterate women living in rural and backward areas.
Karnataka Udyogini Yojana 2024 for Women Entrepreneurs
Udyogini Yojana encourages women to take loans from Banks and other financial institutions to take up income generating activities listed by KSWDC or other profitable activities for which KSWDC assists in the form of subsidy.
For women belonging to Scheduled caste and Scheduled tribe, unit cost is minimum Rs. 1 lakh to maximum of Rs. 3 lakhs. Subsidy is 50% of the loan amount, income limit of the family should be below Rs. 2 lakhs per year.
For women belonging to special category and general category maximum unit cost is Rs. 3 lakhs. Subsidy for special category women and for general category women is 30% or maximum of Rs. 90,000, with EDP training to selected beneficiaries.
Salient Features of Udyogini Scheme for Women Entrepreneurs
Here are some general features that Udyogini Scheme offers for women entrepreneurs in Karnataka:-- Financial Assistance: The Udyogini scheme offers financial support in the form of loans, grants, or subsidies to help women entrepreneurs establish or grow their businesses. The funding is provided at favorable terms such as low interest rates or collateral-free loans. Applicants can get loans upto Rs. 3 lakh (if eligible).
- High Value Loans to 88 Small Scale Industries: Udyogini Loan can be taken to start businesses categorised under 88 small scale industries. Some of them are fisheries, bakeries, groceries, tailoring shops, libraries, incense stick manufacturing, trades related to poultry and dairy etc. Interest free loans under Udyogini scheme are also available for women starting a business in agriculture sector.
- Skill Development and Training: Women entrepreneurs shall receive training and skill development programs to enhance their business knowledge and managerial abilities. These programs can cover various aspects, including marketing, financial management, technology adoption, and entrepreneurship skills. Udyogini scheme will impact functional skills to women regarding business planning, pricing, costing, feasibility and more alongside financial support.
- Loan Subsidy to Women Entrepreneurs: Karnataka govt. proposes upto 50% subsidy on loans extended under Udyogini scheme to make repayment affordable for women.
- Access to Markets and Networks: Udyogni scheme facilitates access to markets by providing market linkages, networking opportunities, and exposure to trade fairs and exhibitions. Such support helps women entrepreneurs showcase their products or services, expand their customer base, and establish business connections.
- Mentorship and Guidance: Women entrepreneurs will receive mentorship and guidance from experienced business professionals or industry experts. This assistance can help them navigate challenges, make informed decisions, and develop sustainable business models.
- Support for Infrastructure and Technology: The scheme may offer support for infrastructure development, such as the creation of business incubation centers or shared workspaces. Additionally, it may provide assistance for technology adoption and digital literacy to help women entrepreneurs leverage technology for business growth.
- Transparent Evaluation of the Beneficiary: The evaluation process of Udyogini Yojana application form ensures a transparent assessment for beneficiary selection.
Eligibility Criteria to Qualify for Loan under Udyogni Scheme
All the aspiring women entrepreneurs can apply for funding on meeting the hereby mentioned eligibility criteria:-
- The age of applicant must lie b/w 18 to 55 years.
- Family income should be less than Rs. 1,50,000/- for women belonging to general and special category.
- Should not have defaulted on any past loan with any financial institution
- Applicant with good repayment capability would be preferred.
Upper limit of income is not applicable to women under special categories like disabled, widowed or destitute women. After the sanction of loan, EDP training for 3 to 6 days is provided to these women before the release of loan.
List of Documents Required for Udyogini Yojana
The following documents would be required while applying for Udyogini Yojana.
- Aadhar card
- PAN Card
- BPL card (if applicable)
- Income Certificate
- Birth Certificate
- First page of bank passbook (with account holder name, bank / branch name, account no., IFSC and MICR codes)
- Active Mobile Number
- Recent Passport Size Photograph
Business loan for women would be given to women entrepreneurs at competitive interest rates. The loans would be collateral free with simple eligibility criteria and minimum documentation.
Source / Reference Link: https://kswdc.karnataka.gov.in/21/udyogini/en
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Karnataka