The Swarnima Scheme was launched by the National Backward Classes Finance and Development Corporation (NBCFDC) for the benefit of women. Term loans will be provided under this initiative to female business owners that fall within the target population (backward classes). The system is implemented by the State Channelizing Agency (SCA), which acts as the nodal agency. Read on for more information about the New Swarnima Scheme for Women, including its highlights, features, benefits, eligibility requirements, documents required, financing structure, application procedures, and much more.
New Swarnima Scheme for Women Key Highlights
|Name||New Swarnima Scheme for Women|
|Introduced by||National Backward Classes Finance and Development Corporation (NBCFDC)|
|Implemented by||State Channelizing Agency (SCA)|
|Beneficiaries||female entrepreneurs from underprivileged classes|
|Objective||Providing women with social and financial stability|
|Official Website||Click Here|
New Swarnima Scheme for Women 2023
In order to give female business owners from lower socioeconomic levels access to loans up to 2,000 rupees per month at 5% yearly interest, the Ministry of Social Justice and Empowerment established the New Swarnima Scheme for Women. The State Channelizing Agencies (SCAs), which operate as the program’s nodal agency, are in charge of carrying out the program’s implementation. It was created by the National Backward Classes Finance and Development Corporation (NBCFDC).
The objective of Swarnima Scheme 2023
The major objective of the portal is to encourage self-reliance in women from disadvantaged classes through term loans.
Benefits for Swarnima Scheme 2023
- The Benefits of this scheme are given below:
- The objective of this scheme is to improve living conditions.
- To give the state’s women social and financial stability.
- To enable the recipient to lead a life of financial independence.
The Eligibility Criteria for this scheme are given below:
- The candidate has to be a FEMALE
- The applicant’s age must fall between 18 and 55
- The candidate has to be an entrepreneur
- The applicant’s family must have a total annual income of less than 3 lakh.
The documents needed for this scheme are given below:
- The applicant’s Aadhar Card
- Passport size photograph
- Residence Certificate
- Domicile Certificate
- Ration Card
- Up to 95% of the loan will come from the lender, with the remaining 5% coming from State Channelizing Agencies (SCAs) or beneficiary contributions.
- The loan’s distribution date plus four months constitute the utilization term.
The Interest Rate under the scheme is given in the table below:
|NBCFDC to SCA||2% per annum|
|SCA to Beneficiary||5% per annum|
Return of the Loan
The loan sum must be repaid in four years of quarterly payments, plus a moratorium period of six months before the principal is payable.
Steps to Apply for New Swarnima Scheme for Women
To apply for Swarnima Scheme for Women, the user needs to follow the below-given steps:
- Go to the SCA office that is nearest to you first.
- Get the Swarnima Scheme for Women application form from the competent authority.
- Now, complete the form with all the necessary information.
- Also, specify your needs, your preferred profession, and any training requirements
- After that, attach all the required documents with the application form
- Now, review and recheck the application form to avoid any mistakes
- Submit the form to the concerned official of the SCA office
- Finally, SCA will approve the loan after verifying the application
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