MSME acronym for Micro, Small, and Medium Enterprises, is usually plentiful of novel ideas and creative ecosystem that solves multiple problems. This time they came up with a booster to support the women entrepreneurs of India.
If we look at the ratio, the number of women business owners is substantially lower than the male entrepreneurs in India. As per the Startup India reports, 13.76 percent of the entrepreneurs are women, in total. The number of male entrepreneurs are about 50 million, while the female entrepreneurs are of only 8 million.
To increase and strengthen up the women empowerment in the business sphere, both the Central and State Government have launched a financial constituent to boost the women entrepreneurship in India.
Here are the enlisted “9 schemes by MSME for empowering women Entrepreneurs in India”.
Scheme 1- Annapurna Scheme
Annapurna scheme implies to the women entrepreneurs who have a food catering unit. Government under MSME provides a loan up to Rs 50,000 to shop for food catering related supplies and equipment like utensils and water filters.
To secure the loan, a guarantor is mandated. Once done with the loan process, a business can pay in 36 installments where the concerned bank takes the required assets under collateral terms and conditions.
Scheme 2- Bhartiya Mahila Business Bank Loan
The mentioned scheme refers to women entrepreneurs with manufacturing firms. The scheme avails a loan up to Rs.20 crore to the women business owners. As per the Credit Guarantee Fund Trust for Micro and Small Enterprises, there is no requirement of collateral and offers loans up to Rs.1 Crore. The loan can be repaid in seven years under this scheme.
It was initiated by Bhartiya Mahila Bank which was incorporated with State Bank of India in 2017.
Scheme 3- Cent Kalyani Scheme
Cent Kalyani Scheme is for women business owners in various sectors like agricultural work or retail trading. The scheme is offered by Central Bank of India, where loans up to Rs 1 Crore is sanctioned.
Unlike Annapurna scheme, this scheme does not require guarantors or collateral, and Interest rates on loans vary with the market rates.
Scheme 4- Dena Shakti Scheme
Agriculture, Manufacturing, Retail stores, Micro-Credit, and a few more related small enterprises fall under this scheme. The scheme sanctions loans for women entrepreneurs up to Rs 20 Lakh with a concession of 0.25 percent interest rate. Under the micro-credit sector loans are avail up to Rs.50,000.
Scheme 5- Mudra Yojana Scheme
Mudra Yojana Scheme is for women who desire to start a small enterprise like tuition center, beauty parlor, tailoring unit, and similar kind of small units. This general government scheme is helpful for a group of women who want to set a business together.
Loans are avail from Rs.50,000 and up to Rs 50 Lakh, and if the scheme amount is more than Rs 10 Lakh mandate collateral and guarantors are required.
Other three plans are implemented under this scheme:
- Kishor plan- for the acknowledged enterprises. Loans are offered between Rs.50,000- Rs.5 Lakh.
- Shishu plan- For new businesses. Provides loans up to Rs.50,000.
- Tarun plan- For business expansion. Loans avail between Rs.5 lakh- Rs.10 Lakh.
Scheme 6- Mahila Udyam Nidhi Scheme
The scheme supports women who startup a new small-scale venture. It is proposed by SIDBI- Small Industries Development Bank of India. Under this scheme, up to Rs.10 Lakh financial assistance is offered. Within 10 years loans are to be repaid including a five year moratorium period. The scheme also supports modernization and upgrading of the current projects.
Scheme 7- Stree Shakti Package For Women Entrepreneurs
The scheme is for the women over 50 percent of majority ownership in a small business. The women need to enroll in the EDP- Entrepreneurship Development Programmes regulated by their state agencies. Rs.2 Lakh and above loans are sanctioned under this scheme with a 0.05 percent rate.
Scheme 8- Trade Related Entrepreneurship Assistance and Development
Simply called as TREAD. The scheme empowers women by offering credit to projects, obtaining information on related needs, and organizing specific training and counseling.
Scheme 9- Udyogini Scheme
The Udyogini Scheme is for the women entrepreneurs between 18 and 45 years of age who have a startup in agriculture, retail, and similar sort of small businesses. Under the scheme, up to Rs 1 Lakh is offered under the condition of having a family annual income of below Rs 45,000.
Widow, destitute, and disabled women do not have any income limit and if the above-specified women fall under SC/ST categories, up to Rs.10,000 loan is provided.
