Swarnima Scheme For Women

The Swarnima Scheme was introduced by the National Backward Classes Finance and Development Corporation (NBCFDC) for the welfare of Women. Under this scheme, term loan will be provided to women entrepreneur belonging to the target group (backward classes). The implementation of the scheme is performed by the State Channelising Agency (SCA) which act as the nodal agency. In this article, we look at the Swarnima Scheme For Women in detail. Also, read about the license required for business.

NBCFDC

The National Backward Classes Finance and Development Corporation which is regulated under the Ministry of Social Justice and Empowerment works for promoting economic and developmental activities for the benefit of Backward Classes and assisting the weaker section of these classes in skill development and self-employment. NBCFDC grants financial assistance through State Channelising Agencies (SCAs). Also, they provide funding through SCAs/ Self Help Groups (SHGs). NBCFDC supports the economically weaker section in developing self-employment ventures under the following sectors:

Agriculture and Allied Activities.
Small Business.
Artisan and Traditional Occupation.
Technical and Professional Trades/Courses.
Transport and Service Sector.

Benefits of the Scheme

The Benefits of the Swarnima Scheme For Women are listed below:

This scheme is focused on providing better livelihood.
To provide social and financial security to the women in the state.
To make beneficiary to live a financially independent life.

Eligibility Criteria

The eligibility criteria to obtain benefits of Swarnima Scheme are given in detail here:

Women entrepreneur belonging to backward classes is only eligible to apply for this scheme.
Age of the woman should be between 18 to 55 years.
The annual income of the women should be less than Rs.3 Lakhs per annum.

Note: The SCAs or Banks will release up to 50% of total funding to women with annual income up to Rs.1.50 Lakh.

Quantum of Assistance

Under the Swarnima Scheme, all the eligible women will get a subsidy amount of Rs. 1 Lakh for self-employment and the remaining amount has to be self-owned by the beneficiary.

Pattern of Financing

The loan will be provided up to 95% and balance 5% provided by the State Channelizing Agencies (SCAs) or Beneficiary contribution. The utilization period is 4 months from the date of disbursement of the loan.

Rate of Interest

The rate of interest under Swarnima Scheme For Women are tabulated below:

Interest Chargeable from
NBCFDC to SCA	2% per annum
SCA to Beneficiary	5% per annum

Repayment of Loan

The amount of loan has to be repaid in quarterly instalments within 4 years, including the moratorium period of 6 months on the recovery of principal.

Documents Required

The below following documents are to be submitted along with the application form:

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

Application Procedure

Procedure to apply for Swarnima Scheme For Women is explained in detail below:

Step 1: Eligible applicant needs to visit nearest SCA office, apply on prescribed form for Swarnima Scheme For Women.

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 along with the required documents to the same SCA office.

Step 4: After reviewing the application, the loan will be sanctioned by SCA.

Note: For more details about Swarnima Scheme For Women contact concern District collector or District Manager.

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Frequently Asked Questions

Common questions about Swarnima Scheme for Women.

The Swarnima Scheme for Women is a term loan scheme introduced by the National Backward Classes Finance and Development Corporation (NBCFDC) to promote entrepreneurship among women belonging to backward classes. It aims to provide financial assistance and support for self-employment ventures.

To be eligible for the Swarnima Scheme, a woman must belong to a backward class, be between 18 and 55 years of age, and have an annual income of less than Rs. 3 lakhs per annum.

Under the Swarnima Scheme, eligible women entrepreneurs can receive a subsidy amount of Rs. 1 lakh for self-employment, with the remaining loan amount to be self-financed by the beneficiary.

The loan under the Swarnima Scheme is financed up to 95% by the National Backward Classes Finance and Development Corporation (NBCFDC) through State Channelizing Agencies (SCAs), with the remaining 5% to be contributed by the beneficiary or the SCA.

The interest rate charged by NBCFDC to the SCA is 2% per annum, while the interest rate charged by the SCA to the beneficiary is 5% per annum.

The loan under the Swarnima Scheme has to be repaid in quarterly installments within 4 years, including a moratorium period of 6 months on the recovery of the principal amount.

The Swarnima Scheme supports self-employment ventures in sectors such as agriculture and allied activities, small business, artisan and traditional occupations, technical and professional trades/courses, transport, and the service sector.

To apply for the Swarnima Scheme, women entrepreneurs need to submit proof of identity (Aadhaar card), ration card, domicile certificate, caste certificate (for reserved categories), and a passport-size photograph.

To apply for the Swarnima Scheme, eligible applicants need to visit the nearest State Channelizing Agency (SCA) office, fill out the prescribed application form, provide the required documents, and submit the application to the SCA office for review and loan sanction.

For more details about the Swarnima Scheme for Women, you can contact the concerned District Collector or District Manager of your area, or visit the nearest State Channelizing Agency (SCA) office.