New Swarnima Scheme
In a significant stride towards women empowerment, the Ministry of Social Justice and Empowerment has introduced the Swarnima Scheme, a term loan initiative designed exclusively for women entrepreneurs hailing from backward classes. This groundbreaking scheme, orchestrated by the National Backward Classes Finance and Development Corporation (NBCFDC) and executed through State Channelizing Agencies (SCAs) acting as nodal entities, aims to extend financial and social security to women entrepreneurs pursuing their business aspirations.
- Generous Loan Provision: Swarnima Scheme offers a substantial loan amount of up to ₹2,00,000 at an exceptionally low-interest rate of 5% per annum, providing a solid financial foundation for women entrepreneurs to materialize their business dreams.
- Subsidy Support: As a pivotal benefit, the scheme extends a subsidy of ₹2,00,000 at a nominal interest rate of 5% per annum, facilitating self-employment initiatives. Notably, the remaining amount for the project must be self-owned by the beneficiary, ensuring a shared commitment to the venture’s success.
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- Gender Inclusivity: The scheme is exclusively tailored for female entrepreneurs, fostering gender inclusivity and acknowledging the pivotal role women play in the economic landscape.
- Age Bracket: Applicants falling within the age bracket of 18 to 55 years are eligible to apply, reflecting the scheme’s commitment to supporting women at various stages of their entrepreneurial journey.
- Entrepreneurial Spirit: The applicant must demonstrate an entrepreneurial spirit, showcasing a determination to contribute to economic growth through their business endeavors.
- Financial Parameters: To ensure the targeted beneficiaries, the total annual family income of the applicant must not exceed ₹3 lakh, aligning the scheme with the socio-economic needs of women from backward classes.
- Visit SCA Office: Eligible applicants commence the process by visiting the nearest State Channelizing Agency (SCA) office, where they can obtain and fill out the prescribed Swarnima Scheme application form.
- Detailed Application: Applicants are required to provide comprehensive details in the application form, including specific vocational preferences and any training requirements deemed necessary for the success of their entrepreneurial venture.
- Submission and Review: Once the application, along with the requisite documents, is submitted to the SCA office, a thorough review is conducted. Upon successful review, the loan is sanctioned by the SCA.
To streamline the application process, the following documents are required:
- Proof of Identity (Aadhaar card)
- Ration Card
- Domicile Certificate
- Caste Certificate (for reserved category)
- Passport-size Photograph of the applicant
The Swarnima Scheme stands as a testament to the government’s commitment to fostering women’s economic independence and entrepreneurship. By providing financial support and eliminating the need for personal investment for projects up to ₹2,00,000, this initiative paves the way for a more inclusive and empowered society, where women can thrive as successful entrepreneurs.