Women are “the embodiment of strength who never gives up,” according to terms we are familiar with. Women are constantly educated to adapt to the numerous situations we encounter in daily life in order to confront the world. Like other sex, women too want to be independent earners and successful businesswomen. Nowadays, women from all social strata want to establish themselves in the fields of their desires, regardless of the social structure or geographic location.
Over the past few years, the Indian government has introduced a variety of programs for women to assure their financial stability and provide them with greater chances in terms of work, education, and other areas. Some of the schemes are discussed in this article:
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Commercial loans from Bharathiya Mahila Bank:
On the occasion of Indira Gandhi’s birth, Bharathiya Mahila Bank was successfully inaugurated for women who dare to dream large regardless of their resources. Since it offers loans of up to INR 20 crore to all female business owners who desire to grow their enterprises and are between the ages of 21 and 70. - Mudra Yojana Scheme
Mudra Yojana Scheme are extremely profitable for small businesses including food delivery services, tutoring centers, beauty salons, and tailoring shops. This plan is restricted to three categories and does not require any collateral or guarantors for the loan.- Shishu: Loans up to 50,000/- for those who are at the nascent stage.
- Kishor: Loans above 50,000/- and up to five lakh availed by an established entrepreneur.
- Tarun: Loans above 5 lakh and up to 10 lakh can be availed by those who want to expand their business.
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Dena Shakti Scheme
The financing program is skillfully created for women who run successful businesses out of producing items and performing agricultural tasks.
- where loans in the amount of Rs. 20 lakhs are approved for the agricultural, retail, manufacturing, housing, and educational sectors.
- While loans of Rs. 50,000 are approved under the microcredit category.
- While the program also offers 0.25% interest rate reductions.
4. Udyogini Scheme
Want to start your own business but have no assets? The Udyogini Scheme offers loans to women at an interest rate that is subsidized in an effort to encourage financial independence and women’s empowerment. For instance, you may be eligible for this loan if your annual salary is less than Rs. 1.5 lakhs.5 Cent Kalyani Scheme
The Cent Kalyani Scheme offers loans up to Rs. 100 lakhs to all SME’s without requiring any collateral or processing fees. While every woman who starts a business in the retail, academic, or training sectors is given special significance.
6 Mahila Udyam Nidhi Scheme
This initiative was started by the Punjab Commercial Bank with the goal of assisting Small Scale Industries (SSI). By offering hassle-free loans, the primary objective is to promote modernization and technological growth in these small-scale enterprises. where the loan amount is capped at Rs. 10 lakhs and the borrower has ten years to pay back the loan. This also contains a five-year maximum moratorium term.
7 Women Entrepreneurship Platform (WEP)
The government of India through NITI Aayog has started an initiative called the ladies Entrepreneurship platform that brings together the ladies entrepreneurs and sponsors willing to support them in one place. Women Entrepreneurs who are at the ideation stage in their startup’s journey can register under the scheme to avail of its benefits.
8 Stree Shakti Scheme
This scheme is women-centric, introduced by the central government is under the flagship of the depository financial institution of India. It is custom made for aspiring women business makers, this scheme also covers those women entrepreneurs who have a shared capital of 51% as partners, shareholders or directors of a personal company.
9 Annapurna Scheme
The Annapurna Scheme is a program designed for women working in the food service industry who are just starting small companies. The loan enables these female business owners to use it for capital needs like purchasing tools and equipment, mending trucks, etc. This program allows women to sell packaged foods and snacks, one of the most popular enterprises that female entrepreneurs choose.
10 Orient Mahila Vikas Yojana Scheme
This program is for women who own 51% of the share capital of a private business, either individually or jointly. This plan offers a discount at an interest rate of up to twenty while not requiring collateral security. The loan maximum is Rs. 25 lakhs because the payback schedule is adjustable for up to 7 years.
According to statistics, the government is attempting to close the gap between women-owned businesses and male-owned businesses of comparable age in the same industries. Only 5% of women-owned businesses receive venture capital funding, compared to a staggering 77% of male-owned businesses.
It is well recognized that empowering women makes a country prosper. Hoping they achieve success while making a lasting contribution to society.
