There is absolutely no limit to what we, as women, can accomplish. And, women entrepreneurs of our country have left no stone unturned to prove their capabilities. Top Indian Women Entrepreneurs like Falguni Nayar– Founder of Nykaa, Ritu Kumar– The famous fashion designer, Divya Gokulnath– Co-founder of BYJU’S, etc. have inspired millions of women to step forward and follow their passion of being an entrepreneur.
However, a very important part of starting a business- small or big, is capital. To encourage more women and help them follow their dreams, Indian Government launched some schemes. These schemes have been designed keeping in view the upcoming and existing women entrepreneurs.
7 Government Schemes for Women Entrepreneurs in India
Annapurna Scheme: There are many hidden gems (women) in our country who make fabulous food, pickle, papad, etc, at home. So, the government helps these talented women to step out of their houses and start their own catering business. Under this scheme, a loan amount of up to Rs. 50,000 is sanctioned and you can repay the loan within a tenure of 3 years.
Bharatiya Mahila Bank Business Loan: Some women wish to make it really big to the business world. Therefore, to support them financially, this government scheme offers a loan up to Rs. 20 crores that can be repaid within a tenure of 7 years.
Mudra Yojana Scheme: Again, it is a great initiative by the government to bring women financial independence. The loan limit of this scheme is Rs. 10 lakh. And, post approval of the loan, the government also gives Mudra Cards that work exactly like credit cards having a withdrawal limit of 10% of the loan.
Orient Mahila Vikas Yojana Scheme: This government scheme is curated for those women who have 51% share capital either separately or collectively in an organization. The scheme offers a great opportunity to these stakeholders in expanding their business. The maximum loan limit is Rs. 25 lakh and it can be repaid within 7 years.
Dena Shakti Scheme: This loan scheme is only offered to those women who wish to make money out of either manufacturing goods or agricultural work. Under the category of housing, education and retail trading, a loan up to Rs. 20 lakh can be sanctioned and under the category of microcredit, a loan up to Rs. 50,000 is sanctioned.
Pradhan Mantri Rozgar Yojana: This scheme is applicable to all types of ventures in trade, industries and services and is one of the most popular schemes offered by the government. The loan subsidy amount offered under this scheme is up to 15% of the project cost with an upper limit of Rs. 12,500 per borrower. The loan limit for business is Rs. 2 lakh and for services and industry, it is Rs. 5 lakh.
Cent Kalyani Scheme: This scheme that comes under Central Bank of India is offered to both- new as well as existing entrepreneurs who wish to expand their businesses like food-processing, farming, beauty, canteen, day crèches, tailoring, etc. A loan amount of up to Rs. 1 crore can be sanctioned under this scheme with a margin rate of 20%. The maximum tenure to repay this loan is 7 years.
If you want any information related to funding, compliance, acceleration programs and more, visit https://wep.gov.in/
Government is taking initiatives to help women entrepreneurs break all the barriers and fulfill their dreams. Likewise, Paytm Payments Bank is also empowering women entrepreneurs.
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Our digital current account is very easy to open, easy to use, involves no hidden charges, is backed by highly-secure infrastructure and offers a corporate banking panel too. Moreover, features of this current account have been carefully designed after considering the need of many small and medium enterprises in India.
If you are planning to start a business or planning to expand your existing business, Paytm Payments Bank is here to help you grow.
More power to you!