New Swarnima Scheme For Women 


Contents

  • Details
  • Benefits
  • Eligibility
  • Exclusions
  • Application Process
  • Documents Required
  • Frequently Asked Questions
  • Sources And References


Details

The Ministry of Social Justice and Empowerment has launched a term loan scheme for women entrepreneurs from backwards classes to obtain a loan of up to Rs. 2,00,000/- at 5% per annum, providing them with social and financial security. The scheme is initiated by the National Backward Classes Finance and Development Corporation (NBCFDC) and implemented by State Channelizing Agencies (SCAs), which serve as the scheme's nodal agency.

What exactly is NBCFDC?

The Ministry of Social Justice and Empowerment governs the National Backward Classes Finance and Development Corporation, which promotes economic and development activities for the benefit of the Backward Classes and assists the weaker segments of these classes with skill development and self-employment. NBCFDC provides financial assistance through state channeling organisations (SCAs). They also provide funds through SCAs and self-help groups (SHGs). NBCFDC assists the economically disadvantaged in establishing businesses in the following sectors:




Benefits

  • A subsidy of Rs. 2,00,000/- @ 5% per year for self-employment. (The beneficiary must be the sole owner of the remaining amount.)
  • The beneficiary woman is not required to invest any of her own money in projects up to the value of Rs.2,00,000/-.

Eligibility

  • The applicant must be a FEMALE.
  • The age of the applicant must be between 18 and 55 years
  • The applicant must be an Entrepreneur
  • The Total Annual Family Income of the Applicant must be Less than ₹ 3 Lakh per Annum


Application Process

Step 1: Eligible applicant needs to visit nearest SCA office, apply on prescribed form for Swarnima Scheme for Women. You can find your nearest SCA office at this link - https://nsfdc.nic.in/channel-patrners/scas  


Step 2: Enter the necessary details in the application form and mention the needs and choice of vocation and training requirements, if any.


Step 3: Submit your application form and the required documents to the same SCA office. After reviewing the application, the loan will be sanctioned by SCA.


Documents Required

  • Proof of Identity (Aadhaar card)
  • Ration Card
  • Domicile Certificate
  • Caste Certificate (for reserved category)
  • Passport size Photograph of the applicant

Frequently Asked Questions


What is the maximum size of the loan under the Swarnima Scheme?
Under this scheme, the eligible woman entrepreneur can obtain a term loan of max. ₹1,00,000/- @ 5% per annum.


How much will be the interest rate for the loan?
The rate of interest would be as follows - NBCFDC to SCA: 2% per annum SCA to Beneficiary: 5% per annum

Is there a helpline number where I can get answers for my queries reg. the application process?
Yes, the Toll Free Number is 18001023399.

What are SCAs?
NBCFDC grants financial assistance through State Channelising Agencies (SCAs). Also, they provide funding through SCAs/ Self Help Groups (SHGs). The SCAs or Banks will release up to 50% of total funding to women with annual income up to Rs.1.50 Lakh.


Sources And References