New Swarnima Scheme For Women

The Swarnima Scheme is a term loan scheme introduced by the Ministry of Social Justice and Empowerment to provide financial assistance to women entrepreneurs from backward classes. The scheme aims to empower women by offering social and financial security through term loans. Implemented by the National Backward Classes Finance and Development Corporation (NBCFDC) and carried out by State Channelising Agencies (SCAs), the scheme facilitates access to loans of up to ₹2,00,000/- at an interest rate of 5% per annum.

Ministry and Agency

• The Swarnima Scheme is an initiative of the Ministry of Social Justice and Empowerment.
• The National Backward Classes Finance and Development Corporation (NBCFDC) acts as the implementing agency for the scheme.
• State Channelising Agencies (SCAs) are the nodal agencies responsible for executing the scheme on the ground level.

Objectives of the Scheme

The Swarnima Scheme aims to achieve the following objectives:

1. Provide social and financial security to women entrepreneurs belonging to backward classes.
2. Enable women to obtain term loans of up to ₹2,00,000/- at an interest rate of 5% per annum.

Benefits of the Swarnima Scheme

The Swarnima Scheme offers the following benefits to eligible women entrepreneurs:

1. Subsidy Amount: Beneficiaries are eligible to receive a subsidy amount of ₹2,00,000/- at an interest rate of 5% per annum for self-employment purposes.

2. No Personal Investment: The beneficiary woman is not required to invest any personal funds into the projects with a cost of up to ₹2,00,000/-.

Eligibility Criteria

To be eligible for the Swarnima Scheme, applicants must meet the following criteria:

1. Gender: The applicant must be a female.
2. Age: The age of the applicant must be between 18 and 55 years.
3. Entrepreneurship: The applicant must be an entrepreneur.

4. Family Income: The total annual family income of the applicant must be less than ₹3,00,000/-.

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