Financial Assistance Schemes For Women

Women entrepreneurs are becoming more and more successful in this competitive market and the government is also playing a vital in this growth. Women entrepreneurs are coming out in large numbers to setup their own ventures. The Indian government has also taken effective measures for promoting and empowering women entrepreneurs. A wide range of financial schemes have been introduced by several banking institutions for financially supporting aspiring women entrepreneurs.

Schemes introduced by Punjab National Bank:

PNB Kalyani Card Scheme:
This scheme provides women entrepreneurs with the credit facility to meet their working capital requirements. Both literate and illiterate women living in semi-urban and rural areas who are no longer minor will be eligible for credit facility under this scheme. Such women should include landless labourers, lessee farmers, agricultural labourers, etc. Women who want to setup non-farming activities should have experience for undertaking the activity.

PNB MAHILA Samridhi Yojna:
This is primary scheme under which four secondary schemes are introduced for empowering women entrepreneurs. This scheme provides credit facility for purchasing infrastructure and setting up- Boutique or a tailoring shop, STD/ISD booths, Cyber Cafe and Beauty parlour. Financial help is also provided for meeting the recurring expenditure of the activity.

SIDBI Schemes for Women Entrepreneurs:

  • Akshaya Mahila Arthik Sahay Yojna: This scheme provides financial assistance to self-employed and professional women and also those who are associated with agricultural activities and retail trade.
  • Stree Shakti Package: This particular scheme is introduced to provide certain concessions to women entrepreneurs. The entrepreneurs who have attended EDP conducted by the state level bodies or programmes sponsored by banks are eligible for financial credit under this scheme.
  • Mahila Vikas Scheme: This scheme provides the units supported by women entrepreneurs with term loans and working capital credit. Only a unit administrated and owned by a women entrepreneur having a financial interest of at least 51% is eligible for financial assistance under this scheme.
  • Mahila Udyam Nidhi Scheme: The MUN scheme introduced by SIDBI encourages women entrepreneurs to take equity type assistance at a very low interest rate and flexible terms. Finance of up to rupees 10 lacks can be availed by women entrepreneurs for setting up new industrial ventures.

With the benefits and financial assistance that women entrepreneurs get are attracting a lot of attention. Many women entrepreneurs have achieved great success in their field and are now encouraging others to contribute in the economic development of the country.

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