The Indian government has launched several initiatives to promote women's entrepreneurship, offering various loan schemes designed to provide financial assistance, foster self-reliance, and boost economic growth. These schemes come with attractive features such as subsidized interest rates, collateral-free loans, and business development support.
Here's a detailed look at the top 10 government loan schemes empowering women entrepreneurs in India:
1. Mudra Yojana Scheme for Women
- Objective: Part of the Pradhan Mantri Mudra Yojana (PMMY), this scheme aims to provide financial support to small and micro-enterprises run by women.
- Loan Amount:
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- Shishu: Up to ₹50,000
- Kishore: ₹50,001 to ₹5,00,000
- Tarun: ₹5,00,001 to ₹10,00,000
- Benefits:
- No collateral required.
- Lower interest rates compared to commercial loans.
- Focus on women in manufacturing, trading, and service sectors.
- Easy application process through banks, NBFCs, and MFIs.
2. Annapurna Scheme
- Objective: Designed by the Small Industries Development Bank of India (SIDBI), it supports women entrepreneurs in the food catering business.
- Loan Amount: Up to ₹50,000
- Benefits:
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- Aimed at catering business needs, including working capital and equipment.
- Repayment period of up to 36 months, with an initial grace period of one month before repayment starts.
- Interest rates are market-linked but generally competitive.
3. Stree Shakti Yojana
- Objective: Offered by SBI, this scheme supports women who have completed Entrepreneurship Development Programs (EDP) from state agencies.
- Loan Amount: Up to ₹25 lakhs (for businesses operating in retail, small industries, or services)
- Benefits:
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- Interest rate concession of 0.5% for loans above ₹5 lakhs.
- No collateral for loans up to ₹5 lakhs (for small business units).
- Encourages women to take leadership roles in business.
4. Cent Kalyani Scheme
- Objective: Central Bank of India offers this scheme to women involved in agriculture, retail trade, self-employment, and MSMEs.
- Loan Amount: Up to ₹100 lakhs (₹1 crore)
- Benefits:
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- No collateral or guarantor required.
- Competitive interest rates based on MCLR (Marginal Cost of Funds-based Lending Rate).
- Covers a wide range of business activities, including village and cottage industries.
5. Udyogini Scheme
- Objective: Provides financial assistance to women, particularly from rural and backward areas, to start small businesses.
- Loan Amount: Up to ₹3 lakhs (can vary by state)
- Benefits:
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- Significant subsidies on interest rates, especially for SC/ST and disabled women (up to 30-50%).
- No income limit for widows, disabled, or destitute women.
- Available through various commercial banks.
6. Mahila Udyam Nidhi Scheme
- Objective: Offered by Punjab National Bank (PNB) and SIDBI, it helps women set up new projects or upgrade existing ones.
- Loan Amount: Up to ₹10 lakhs (for new projects)
- Benefits:
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- Provides equity funding and assistance in technology upgradation.
- Repayment period can extend up to 10 years.
- Interest rates are competitive, often with a slight concession.
7. Dena Shakti Scheme
- Objective: Dena Bank (now part of Bank of Baroda) provides loans for women in agriculture, manufacturing, micro-credit, retail trade, and other small enterprises.
- Loan Amount:
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- Agriculture: Up to ₹20 lakhs
- Manufacturing: Up to ₹20 lakhs
- Retail Trade: Up to ₹20 lakhs
- Micro-Credit: Up to ₹50,000
- Benefits:
- Concession of 0.25% on the interest rate.
- Aims to support a diverse range of business activities.
8. Oriental Mahila Vikas Yojana Scheme
- Objective: Oriental Bank of Commerce (now part of Punjab National Bank) offers this scheme to women with 51% shareholding in a proprietary or partnership firm.
- Loan Amount: Up to ₹10 lakhs to ₹25 lakhs (for individual women or groups)
- Benefits:
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- No collateral for loans up to ₹10 lakhs.
- Interest rate concession of 2%.
- Aims to empower women in the MSME sector.
9. PNB Mahila Udyami Scheme
- Objective: Punjab National Bank provides financial assistance to women entrepreneurs to start or expand small and medium-sized enterprises.
- Loan Amount: Up to ₹10 lakhs (can vary based on project cost)
- Benefits:
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- Designed for women in MSMEs and retail trade.
- Competitive interest rates and flexible repayment options.
- Encourages business diversification.
10. M/s. Haryali Loan Scheme
- Objective: While not solely for women, this scheme by Punjab National Bank supports activities related to agriculture, including tree planting, horticulture, and establishing green projects. Women entrepreneurs in these sectors can significantly benefit.
- Loan Amount: Varies based on project cost and scope.
- Benefits:
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- Promotes eco-friendly and sustainable businesses.
- Helps women establish ventures in agricultural and allied activities.
- Focus on income-generating activities in rural areas.
These schemes collectively aim to reduce financial barriers for women, enabling them to pursue their entrepreneurial dreams, create employment, and contribute significantly to India's economic landscape. Interested applicants should visit their nearest bank branch or the official websites of the respective banks for the most updated information and application procedures.
