Mahila Udyam Nidhi Scheme – Online Apply, Up to ₹10 lakhs Loan Benefits

Mahila Udyam Nidhi Scheme is a flagship initiative introduced to empower women entrepreneurs across India. By offering financial assistance, this scheme encourages women to start their own businesses, scale up their enterprises, and become financially independent. Udyam Nidhi Yojana focuses on women in the small and micro-enterprise sectors, helping them access funds with minimal hassle.

Mahila Udyam Nidhi Scheme was first launched by the Small Industrial Development Bank of India (SIDBI) and is now offered by various banks like Punjab National Bank (PNB) under the name PNB Mahila Udyam Nidhi Scheme. This scheme aims to provide concessional loans to women entrepreneurs in sectors such as manufacturing, services, and production.

Objectives

• To support women entrepreneurs by providing them with easy access to loans.
• To promote sustainable economic development by empowering women in micro and small enterprises.
• To reduce financial dependence and promote entrepreneurial skills among women.
• To help women upgrade their business operations with technological advancements and better infrastructure.

Eligibility Criteria

• Women entrepreneurs running or starting new MSMEs, Tiny Units, or SSIs.
• Women owning at least 51% stake in the enterprise.
• MSMEs engaged in service, manufacturing, or production-related activities.
• Project costs must not exceed ₹10 lakh under the scheme.

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Benefits

• Loans up to ₹10 lakh for women entrepreneurs to start or upgrade businesses.
• Flexible repayment tenure of up to 10 years, including a moratorium period of up to 5 years.
• No collateral or security required for availing the loan under the Mahila Udyam Nidhi Scheme.
• Loans can be used for business expansion, modernization, or technology upgrades.
• The scheme promotes entrepreneurship among women, boosting employment opportunities in small-scale sectors.
• Interest rates vary but are concessional and attractive to reduce the burden on beneficiaries.

Required Documents

• Aadhar card or any government-approved identity proof.
• Proof of business ownership or partnership details.
• Business plan or project report.
• Bank account details.
• Caste certificate (if applicable for special category benefits).
• Recent passport-sized photographs.

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How to Apply

To apply for the Scheme, women entrepreneurs can either approach their nearest bank branches like PNB Mahila Udyam Nidhi Scheme or apply online through the official websites of banks offering this scheme.

• Visit the official website of the respective bank, like Udyam Nidhi Yojana NSFDC or PNB.
• Fill in the application form with all required details.
• Upload necessary documents like identity proof, business details, and project reports.
• Submit the application and track it for approval.

The scheme offers support to several industries including auto repair, beauty parlours, tailoring, and small-scale manufacturing. Other schemes such as Udyogini Scheme and Annapurna Scheme also assist women in starting their businesses.

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Mahila Udyam Nidhi Scheme is crucial in promoting financial independence and sustainable business practices. Women entrepreneurs in need of funds to establish or expand their businesses should take advantage of the Mahila Udyam Nidhi Scheme interest rate that varies from bank to bank.