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Financial Schemes To Promote Women Entrepreneurship
To step out of the jungle of social taboo and patriarchal mind-set and to run a business is a huge challenge for women. But to finally win the aforesaid war and cross the hurdle of financial vulnerability is even a bigger challenge for women entrepreneurs in India. To make the business eco-system women-friendly and boost their participation in entrepreneurship, the government has introduced several banking schemes which are designed to augment women entrepreneurship and make provision for easy and cheap financial aids. These banking schemes come with features such as flexible lending terms, discounted interest rate, fewer or no collateral security, workable repayment conditions, etc. Listed below are different types of banking schemes available for women in business.
Sumaiya Khan

Listed below are different types of banking schemes available for women in business.

Stree Shakti Package for Women Entrepreneurs is offered by SBI, for women having 50% or more ownership in the business. Plus, 0.50 % concession in interest rate on loans exceeding ₹ 2 lakh and no collateral security is required up to ₹ 5 lakhs. Women entrepreneurs are also offered extra concessions if they are trained and certified in the specified business. Also, training, development programmes and awards are given by SBI to promote women’s participation in the business eco-system.

Bhartiya Mahila Bank Business Loan is designed to assist women entrepreneurs in retail and manufacturing sector. This public sector scheme provides loan up to ₹ 20 crores for expansion, working capital needs and manufacturing purposes. Small enterprises are granted collateral free loan at concessional interest rates up to ₹ 1 crore. Repayment term is maximum 7 years. Bhartiya Mahila Bank Business Loan also offers plans like

Shringaar- Available for self-employed women who want to set up their own beauty parlour. They can utilize the loan amount for working space, working expenses, equipment and stocks.

Parvarish- Parvarish is available for self-employed women, aiming to set-up day care and crèches. Loan up to ₹ 1 crore is easily available for women entrepreneurs.

Annapurna- This scheme could be availed to start or expand business related to food industry, for example, catering, restaurant etc.

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October - November 2019

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