The Swarnima Scheme is a term loan scheme launched by the Ministry of Social Justice and Empowerment to help women entrepreneurs from lower-income families. The program aims to empower women by providing social and financial security in the form of term loans.
The scheme, implemented by the National Backward Classes Finance and Development Corporation (NBCFDC) and carried out by State Channelising Agencies (SCAs), allows access to loans of up to 200,000/- at a 5% annual interest rate.
Agency and Ministry
- The Swarnima Scheme is a Ministry of Social Justice and Empowerment project.
- The scheme is implemented by the National Backward Classes Finance and Development Corporation (NBCFDC).
- State Channelising Agencies (SCAs) are the nodal agencies in charge of carrying out the system on the ground.
The Scheme’s Objectives
The Swarnima Scheme seeks to accomplish the following goals:
Provide social and financial security to women entrepreneurs from low-income families.
Allow women to receive term loans of up to Rs. 2,00,000/- at a 5% annual interest rate.
Benefits of the Swarnima Scheme
The Swarnima Scheme provides the following benefits to qualified female entrepreneurs:
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- Subsidy Amount: Beneficiaries are entitled to receive a subsidy of 20,000/- at a 5% annual interest rate for self-employment purposes.
- Personal Investment: The beneficiary woman is not needed to invest any personal finances in projects costing up to Rs. 2,00,000/-.
NBCFDC Opinion For Swarnima Scheme
The National Backward Classes Finance and Development Corporation, which is governed by the Ministry of Social Justice and Empowerment, promotes economic and developmental activities for the benefit of the Backward Classes while also assisting the weaker segments of these classes in skill development and self-employment.
The NBCFDC distributes funds through State Channelising Agencies (SCAs). They also provide funding through SCAs and Self-Help Groups (SHGs). NBCFDC assists the economically disadvantaged in creating self-employment businesses in the following sectors:
- Agriculture and Related Activities.
- Small Enterprise.
- Traditional and artisan occupations.
- Trades and courses in technical and professional fields.
- Transportation and the service sector.
Eligibility Criteria For Swarnima Scheme 2023
Applicants must meet the following requirements to be eligible for the Swarnima Scheme:
- Gender: The applicant must be female.
- Age: Applicants must be between the ages of 18 and 55.
- Entrepreneurship: The applicant must be an entrepreneur.
- Family Income: The applicant’s total yearly family income must be less than $3,000,000/-.
Documents Required
- Identity Proof (Aadhaar card)
- Domicile Certificate for Ration Card
- Caste Certificate (for reserved categories)
- Passport dimensions Photograph of the applicant
Application Procedure of Swarnima Scheme 2023
- Eligible applicants must go to their nearest SCA office and apply for the Swarnima Scheme for Women on the required form. You can find your nearest SCA office on the official Website.
- Fill out the application form with the essential information, including your needs, preferred career, and training requirements, if any.
- Submit your application form and all relevant documentation to the same SCA office. SCA will sanction the loan after examining the application.
For more information then write your questions in the comment section below at https://directorateheuk.org/
