The Ministry of Social Justice and Empowerment has launched the Swarnima Scheme, an initiative designed to provide financial assistance to women entrepreneurs from backward classes. The scheme, administered by the National Backward Classes Finance and Development Corporation (NBCFDC) in collaboration with State Channelising Agencies (SCAs), facilitates access to term loans of up to ₹2,00,000/- at a highly favorable interest rate of 5% per annum. With a focus on empowering women and ensuring their social and financial security, the Swarnima Scheme stands as a crucial platform for supporting the entrepreneurial aspirations of women from marginalized communities.
Objectives of the Scheme:
The Swarnima Scheme operates with the following objectives in mind:
- Social and Financial Security: The scheme seeks to provide women entrepreneurs belonging to backward classes with social and financial security, enabling them to venture into business endeavors with confidence.
- Accessible Term Loans: Eligible women can avail themselves of term loans of up to ₹2,00,000/- at an interest rate of 5% per annum, ensuring affordable financial support for their self-employment initiatives.
Benefits for Women Entrepreneurs:
The Swarnima Scheme offers the following advantages to eligible women entrepreneurs:
- Subsidy Amount: Beneficiaries are entitled to a subsidy amount of ₹2,00,000/- at a subsidized interest rate of 5% per annum for self-employment purposes.
- No Personal Investment: Women entrepreneurs need not invest any personal funds into projects costing up to ₹2,00,000/-, making it a more accessible opportunity to pursue their entrepreneurial aspirations.
Eligibility Criteria:
To be eligible for the Swarnima Scheme, applicants must fulfill the following criteria:
- Gender: The applicant must be a female.
- Age: The age of the applicant should fall between 18 and 55 years.
- Entrepreneurship: The applicant must have entrepreneurial aspirations and plans.
- Family Income: The total annual family income of the applicant must be less than ₹3,00,000/-.
The Swarnima Scheme stands as a progressive initiative that empowers women entrepreneurs from backward classes, enabling them to unlock their potential and achieve financial independence. Through accessible financial assistance and favorable interest rates, the scheme paves the way for women to thrive in the business landscape, contributing to their own growth as well as the socioeconomic development of their communities.