Mahila Udyam Nidhi Scheme 2021 is a scheme started by the Government of India started with an aim to empower the women entrepreneurs of the county. Through the Mahila Udyam Nidhi Yojana, the government will provide low-interest loans under the Small Industrial Development Bank of India (SIDBI). This scheme is a step to encourage more and more women to come forward and join the mainstream business. The interest rates on the loan may vary depending on the bank issuing the loan. In this article, we will discuss Mahila Udyam Nidhi Scheme 2021. What is the main aim of this scheme? What are the eligibility criteria a candidate must satisfy? What is the application procedure that must be followed while applying for this scheme? The answers to all your questions are given in the article below.
| Scheme Name | Mahila Udyam Nidhi Scheme |
| Launched By | Government of India |
| Beneficiaries | Women Entrepreneurs |
| Registration Process | Offline |
| Objective | To provide loans to women entrepreneurs |
| Benefits | Financial benefits |
| Category | Scheme |
| Official Website |
Mahila Udyam Nidhi Yojana
In this article, you will get information related to Udyam Nidhi Yojana such as eligibility criteria, loan interest rate and project profile.
Objective of the Mahila Udyam Nidhi Scheme
The Udyam Nidhi Scheme was launched to provide loans to women entrepreneurs who have initiated Tiny units, MSME’s, SSI’s etc. The Government offers various benefits under this scholarship. The eligible candidates will receive a loan of 5 to 10 Lakhs depending on the size of the firm. The candidates will have to pay a 1 % annual service charge on the loan. The interest rates of the loan will depend on the bank issuing loan and the cost of the project.
Project Profile
The cost of the project should not be more than Rs.10 Lakhs to be eligible for this scheme. In loans below Rs.10 Lakhs, the candidates are provided with a soft loan with a limit of up to 25% of the total project cost. This loan will only be given to eligible women entrepreneur candidates. This soft loan must be paid back by the recipient in the time span of 10 years (including the initial moratorium period of not more than five years). The loan repayment period of soft loan will be co-terminus with that of term loan sanctioned by a scheduled bank.
Cost of Financing
If the eligible candidates get the soft loan they only have to pay a 1 % service charge per annum which will be recovered by the lending officer. The interest rates will be structured from time to time for the term loan under this scheme as fixed by SIDBI from time to time.
Eligibility Criteria
- This scheme is open for women entrepreneurs who have started to have Tiny unit, MSME’s, SSI’s, etc.
- The MSME must involve in the Trading, Service, and Manufacturing sectors.
- In the case of MSMEs of a Tiny enterprise, the applicant must have invested a minimum of 5 Lakh.
- The MSME must involve in diversification, business expansion, technology up-gradation, and improvement.
Application Form for Mahila Udyam Nidhi Yojana
- First of all, visit the official Website of the Punjab National Bank. The homepage of the portal will display on the screen.
- On the homepage of the official portal, enter Mahila Udyam Nidhi Yojana in the search box and click on search button.
- A list of schemes will display on your desktop screen along with application forms.
- Scroll down the screen until you find the application form for an MSME loan. In the next step, select the option up to 1 crore out of all the options.
- Once you select that option you will be redirected to an Application Form. You can download the form and print it out to fill it manually.
- The first page of the form contains Provisional Acknowledgement.
- From the second page, the application form starts. You can start filling the form from there.
- Â You need to enter the names of Unit/Applicant, Registered Office Address, Address of the Factory/Shop/Business.
- Next, you need to enter your complete contact details like Phone number, PAN card, E-mail ID, and Udyog Number.
- Now, you need to enter complete firm details like Nature of Business, Partners in the firm, Banking/Credit Facilities, Components of Proposed Machinery, and other equipment.
- Then, you must enter the details of your collateral security including third-party collateral security and details.
- On the fifth page, enter information about the past performance of the firm and future business estimation.
- Tick on Yes or No for the question of statutory obligations.
- Now, enter details of Address proof and ID proof.
- Attach your recent photograph and signature on the form.
- Lastly, enter the details like place, signature, and date.
- After completing the form, you must submit it to the nearest branch of PNB for the verification process.
We hope that you will definitely find information related to Mahila Udyam Nidhi yojana beneficial. In this article, we have tried to answer all the questions you ask.
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